Lily to Invest $27B in New US Plants to Avoid Tariffs (Connecting the Dots: Eli Lilly and Company, Sidley Austin LLP, Obamacare, Commercial Club of Chicago, The Pharmaceutical Research and Manufacturers of America & Soros Funding, All Networking)
Newsmax.com
Wednesday,
26 February 2025 11:25 AM EST
https://www.newsmax.com/finance/streettalk/eli-lily-u-s-plants/2025/02/26/id/1200563/
Eli Lilly plans to spend at least $27 billion to
build four new manufacturing plants in the U.S., the drugmaker said at a
Washington press conference Wednesday, as it grapples with the threat of drug
import duties from the Trump administration.
The
new plants will be built over the next five years, and are expected to create
more than 3,000 jobs for skilled workers like engineers and scientists as well
as 10,000 construction jobs, the company said.
Lilly
said it will announce the locations of the sites later this year.
The
announcement comes less than a week after U.S. President Donald Trump met with
chief executives from major drugmakers, including Lilly CEO David Ricks, to
discuss industry concerns such as tariffs on drug imports.
U.S.
Secretary of Commerce Howard Lutnick said at the press conference that Lilly
was doing "exactly what the President was hoping would happen."
Ricks
said he hoped the government would exempt medical supplies from potential
tariffs and continue to pursue further tax reforms.
The
CEO said in a statement earlier on Wednesday that tax-cutting legislation
introduced in Trump's first term had been foundational to the drugmaker's
domestic manufacturing investments.
Trump,
who campaigned on a promise to boost domestic manufacturing, has been piling
pressure on drugmakers since taking office to move medicine production to the
U.S. He suggested last week that he could impose a 25% duty on pharmaceutical
and other imports.
Other
sectors are also making manufacturing announcements. Earlier this week, Apple
said it would spend $500 billion in the U.S. over the next four years, but
analysts said some of that included current commitments.
The
U.S. and its major trading partners have agreed to reciprocal tariff
elimination for pharmaceutical products and chemicals used in drug production
for the past 30 years, according to the U.S. Trade Representative's office.
Despite
telling Republicans in a White House meeting earlier this month that he was
considering such an exemption, Reuters reported, Trump has yet to rule them
out.
Ricks
also said at the conference that he looked forward to working with the new
administration to finalize a rule introduced by President Joe Biden last year
that would require the Medicare and Medicaid government health programs to
cover weight-loss drugs like Lilly's Zepbound.
Responding
to a question about federal employee firings at the U.S. Food and Drug
Administration, the CEO said Lilly's fees go toward funding staff at the agency
and the company would be concerned if those funds "were directed towards
something else."
Lilly,
which has become the world's most valuable healthcare company worth more than
$855 billion, said it has already committed $23 billion to boosting its U.S.
manufacturing footprint since 2020. Its Wednesday announcement brings that
total to more than $50 billion.
Three
of Lilly's new plants will be used to manufacture pharmaceutical raw
ingredients, while the fourth will make injectable medicines, the drugmaker
said.
Connecting
the Dots:
Sidley Austin
LLP was the lobby firm for the Eli Lilly and Company, Pfizer
Inc. and is the lobby firm for the Pharmaceutical Research and
Manufacturers of America.
Barack Obama was
an intern at Sidley Austin LLP and Obamacare was his signature policy initiative.
Michelle Obama was
a lawyer at Sidley Austin LLP.
R. Eden Martin is
counsel at Sidley Austin LLP, and the president of the Commercial
Club of Chicago.
Newton N. Minow is
a senior counsel at Sidley Austin LLP, and a member of the Commercial
Club of Chicago.
W. James
McNerney Jr. is a member of the Commercial Club of Chicago,
and the chairman & president & CEO for the Boeing
Company.
Boeing Company is
a contractor for the National Security Agency (NSA).
Booz Allen
Hamilton is a contractor for the National Security Agency
(NSA).
Barbara G. Fast was
a VP at the Boeing Company, and a VP for the CGI Group Inc.
CGI Group Inc. was
the Obamacare contractor that developed Healthcare.gov
web site.
Obamacare is Barack
Obama’s signature policy initiative.
Donna S. Morea was
the EVP for the CGI Group Inc., and a trustee at the Committee
for Economic Development.
Foundation to Promote Open Society was a funder
for the Committee for Economic Development.
George Soros was the chairman
for the Foundation to Promote Open Society.
Frederick W.
Telling is a trustee at the Committee for Economic Development,
and was the VP for Pfizer Inc.
Ellen R. Marram is
a trustee at the Committee for Economic Development and a director
at the Eli Lilly and Company.
Jeffrey N.
Simmons is the SVP for the Eli Lilly and Company, and a
director at Chiquita Brands International, Inc.
Cyrus F.
Freidheim Jr. was the chairman & CEO for Chiquita Brands
International, Inc., a managing director at Booz Allen Hamilton,
is a member of the Commercial Club of Chicago and an honorary
trustee at the Brookings Institution (think tank).
Foundation to Promote Open Society was a funder
for the Brookings Institution (think tank).
George Soros was the chairman
for the Foundation to Promote Open Society.
Vernon E. Jordan
Jr. is an honorary trustee at the Brookings Institution (think
tank), a senior counsel for Akin, Gump, Strauss, Hauer & Feld,
LLP and Valerie B. Jarrett’s great uncle.
Akin,
Gump, Strauss, Hauer & Feld, LLP is the lobby firm for the Pharmaceutical
Research and Manufacturers of America.
Valerie B. Jarrett is
Vernon E. Jordan Jr. great niece, a member of the Commercial Club of
Chicago and was the senior adviser for the Barack Obama
administration.
Robert S. Osborne is a member of the Commercial Club of
Chicago and the EVP & general counsel for Booz Allen Hamilton.
Booz Allen
Hamilton is a contractor for the National Security Agency
(NSA).
Edward Snowden was
an employee at Booz Allen Hamilton, and leaked information about National
Security Agency (NSA).
Keith B.
Alexander is the director for the National Security Agency
(NSA), and a friend of Barbara G. Fast.
Boeing Company is
a contractor for the National Security Agency (NSA).
Barbara G. Fast is
a friend of Keith B. Alexander, was a VP at the Boeing
Company and a VP for the CGI Group Inc.
CGI Group Inc. was
the Obamacare contractor that developed Healthcare.gov
web site.
Obamacare is Barack
Obama’s signature policy initiative.
Donna S. Morea was
the EVP for the CGI Group Inc. and a trustee at the Committee
for Economic Development.
Frederick W.
Telling is a trustee at the Committee for Economic Development,
and was the VP for Pfizer Inc.
Ellen R. Marram is
a trustee at the Committee for Economic Development and a director
at the Eli Lilly and Company.
Resources:
Past Research
Cost
of Generic Drugs Soaring Due to Increased Demand from Obamacare (Past Research on the Eli Lilly and Company)
Saturday,
February 1, 2014
https://thesteadydrip.blogspot.com/2014/02/cost-of-generic-drugs-soaring-due-to.html
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