WEBVTT 00:00:04.137 --> 00:00:04.204 -- 00:00:04.270 --> 00:00:08.074 Indiana's world. 00:00:08.141 --> 00:00:08.641 >> Hello, welcome to Inside 00:00:08.708 --> 00:00:09.042 Indiana Business. 00:00:09.109 --> 00:00:12.846 I am Gerry Dick. 00:00:12.912 --> 00:00:17.517 The juggernaut arriving like 00:00:17.584 --> 00:00:18.084 riding a wave of Madame M23, 00:00:18.151 --> 00:00:18.718 looking at a robust pipeline of 00:00:18.785 --> 00:00:20.653 medicines designed to help 00:00:20.720 --> 00:00:24.257 those suffering was evident 00:00:24.324 --> 00:00:24.824 from diabetes, to psoriasis, 00:00:24.891 --> 00:00:28.528 and obesity. 00:00:28.595 --> 00:00:30.230 This could be a quote 00:00:30.296 --> 00:00:33.433 "unprecedented year for Eli 00:00:33.500 --> 00:00:33.867 Lilly and Company " 00:00:33.933 --> 00:00:34.501 that could extend until the end 00:00:34.567 --> 00:00:36.669 of the decade. 00:00:36.736 --> 00:00:37.804 It also represent a 00:00:37.871 --> 00:00:40.507 manufacturing impact in a big 00:00:40.573 --> 00:00:41.141 way in North Carolina and right 00:00:41.207 --> 00:00:46.079 here in Central Indiana. 00:00:46.146 --> 00:00:46.679 The town bunny planning a 1.5 00:00:46.746 --> 00:00:47.280 bunny planning a $1.5 million 00:00:47.347 --> 00:00:48.882 campus here in Boone County. 00:00:48.948 --> 00:00:51.885 Eli Lilly and Company the first 00:00:51.951 --> 00:00:52.452 company to counter the LEAP 00:00:52.519 --> 00:00:56.856 District in Lebanon. 00:00:56.923 --> 00:00:58.825 In what is shaping up to be a 00:00:58.892 --> 00:01:00.660 big year for Eli Lilly and 00:01:00.727 --> 00:01:02.028 Company, the CEO of Lilly Dave 00:01:02.095 --> 00:01:03.563 Ricks joins us. 00:01:03.630 --> 00:01:05.899 They queue for joining us! 00:01:05.965 --> 00:01:09.769 >> It is great to be here. 00:01:09.836 --> 00:01:13.907 >> Is aside, there are seeming 00:01:13.973 --> 00:01:14.474 tell whence M23, planning to 00:01:14.541 --> 00:01:15.642 lodge for drugs -- 00:01:15.708 --> 00:01:22.248 2023, 00:01:22.315 --> 00:01:27.554 the company forecasts maintains 00:01:27.620 --> 00:01:28.121 growth for 2024 and that to 00:01:28.188 --> 00:01:28.755 continue for a number of years. 00:01:28.822 --> 00:01:30.457 I know you were released 00:01:30.523 --> 00:01:31.858 earnings and there are limits 00:01:31.925 --> 00:01:37.664 to what you can save. 00:01:37.730 --> 00:01:38.264 But there seems to be bullets 00:01:38.331 --> 00:01:43.069 for 23? 00:01:43.136 --> 00:01:43.703 >> We did have a chance to see 00:01:43.770 --> 00:01:46.239 the outlook with investors. 00:01:46.306 --> 00:01:48.074 You're right, there is maintain 00:01:48.141 --> 00:01:50.677 growth with many new products. 00:01:50.743 --> 00:01:52.445 As many of your listeners now, 00:01:52.512 --> 00:01:54.647 it is all about what you have 00:01:54.714 --> 00:01:55.215 invented lately and grow the 00:01:55.281 --> 00:01:57.650 top line. 00:01:57.717 --> 00:02:00.653 We are in a privileged position 00:02:00.720 --> 00:02:01.221 in that way because we have 00:02:01.287 --> 00:02:03.056 been successful in the last 00:02:03.122 --> 00:02:05.091 five or six years watching 00:02:05.158 --> 00:02:08.261 medicines, and we are poised as 00:02:08.328 --> 00:02:08.828 you said the intro to launch 00:02:08.895 --> 00:02:09.829 for any next 12 months, after 00:02:09.896 --> 00:02:13.633 launching -- 00:02:13.700 --> 00:02:15.068 numeric want for -- 00:02:15.134 --> 00:02:20.673 4. 00:02:20.740 --> 00:02:21.274 You also mentioned it is sheer 00:02:21.341 --> 00:02:24.110 investment in the country, we 00:02:24.177 --> 00:02:25.445 are investing in those lunches 00:02:25.512 --> 00:02:27.881 and in the next wave of 00:02:27.947 --> 00:02:28.781 innovation that is just 00:02:28.848 --> 00:02:31.251 starting what we call phase 3 00:02:31.317 --> 00:02:32.252 or late stage studies. 00:02:32.318 --> 00:02:35.088 We are investing in 00:02:35.154 --> 00:02:35.688 manufacturing and way we have 00:02:35.755 --> 00:02:37.757 not done before. 00:02:37.824 --> 00:02:39.058 We have two sites be built here 00:02:39.125 --> 00:02:40.426 in Indiana as you have 00:02:40.493 --> 00:02:44.063 mentioned. It is really an 00:02:44.130 --> 00:02:44.531 exciting and important 00:02:44.597 --> 00:02:45.131 development at the company for 00:02:45.198 --> 00:02:47.567 some 00:02:47.634 --> 00:02:48.167 >> Habitat but the expression 00:02:48.234 --> 00:02:52.105 in a minute. 00:02:52.171 --> 00:02:52.605 But first, the FDA just 00:02:52.672 --> 00:02:55.708 recently turned down the 00:02:55.775 --> 00:02:58.278 application for early approval 00:02:58.344 --> 00:03:01.080 for some do anticipate there is 00:03:01.147 --> 00:03:02.482 anything more than a speed bump 00:03:02.549 --> 00:03:02.982 regarding that potential 00:03:03.049 --> 00:03:03.283 lacklustre? 00:03:03.349 --> 00:03:04.450 -- 00:03:04.517 --> 00:03:07.253 do you anticipate? 00:03:07.320 --> 00:03:10.023 >> The program they have for 00:03:10.089 --> 00:03:10.623 early approval is superb drugs 00:03:10.690 --> 00:03:13.660 with early data. 00:03:13.726 --> 00:03:14.294 We submitted that last year but 00:03:14.360 --> 00:03:16.262 we are not shocked by the 00:03:16.329 --> 00:03:18.097 decision. The FDA has been 00:03:18.164 --> 00:03:19.265 under a lot of criticism for 00:03:19.332 --> 00:03:20.667 this pathway, and by nature 00:03:20.733 --> 00:03:21.267 these submissions are a little 00:03:21.334 --> 00:03:23.836 incomplete. 00:03:23.903 --> 00:03:24.237 In our case we -- 00:03:24.304 --> 00:03:28.007 incomplete. 00:03:28.074 --> 00:03:31.110 In our case, they sided that 00:03:31.177 --> 00:03:31.611 the were not people that 00:03:31.678 --> 00:03:32.211 experienced the drug for more 00:03:32.278 --> 00:03:33.846 than 12 runs. 00:03:33.913 --> 00:03:34.247 We see that for -- 00:03:34.314 --> 00:03:37.116 12 months. 00:03:37.183 --> 00:03:41.287 We see that as a feature not a 00:03:41.354 --> 00:03:44.090 bug. This drug, unlike most 00:03:44.157 --> 00:03:44.691 Alzheimer treatment, you take 00:03:44.757 --> 00:03:46.259 it with the plaque cleared. 00:03:46.326 --> 00:03:47.894 Many patients had the plaque 00:03:47.961 --> 00:03:50.530 cleared in six months, we do 00:03:50.597 --> 00:03:51.030 not have the exposure to 00:03:51.097 --> 00:03:52.498 normally have for drug like 00:03:52.565 --> 00:03:56.135 this. The back and said this is 00:03:56.202 --> 00:03:56.769 a big study was not as about to 00:03:56.836 --> 00:03:58.471 wrap up in the first-half of 00:03:58.538 --> 00:03:59.038 this year is that reform the 00:03:59.105 --> 00:03:59.606 basis for a full submission. 00:03:59.672 --> 00:04:02.842 -- 00:04:02.909 --> 00:04:03.409 and that will form the basis 00:04:03.476 --> 00:04:07.947 for a full submission. 00:04:08.014 --> 00:04:08.548 We of course have broad plans 00:04:08.615 --> 00:04:10.617 in the area of Alzheimer's. 00:04:10.683 --> 00:04:13.453 >> You talked about a major 00:04:13.519 --> 00:04:16.255 investment in manufacturing 00:04:16.322 --> 00:04:19.459 operations. Just a few days ago, 00:04:19.525 --> 00:04:20.026 a $450 million expression at 00:04:20.093 --> 00:04:22.862 the Taronga Park in North 00:04:22.929 --> 00:04:26.065 Carolina. The big headline here 00:04:26.132 --> 00:04:28.267 in Indiana in recent months has 00:04:28.334 --> 00:04:31.671 been your plans for the leap 00:04:31.738 --> 00:04:32.305 district in Lebanon, just north 00:04:32.372 --> 00:04:35.041 west of Indianapolis, with two 00:04:35.108 --> 00:04:35.608 manufacturing operations and 00:04:35.675 --> 00:04:39.278 200 jobs. 00:04:39.345 --> 00:04:39.879 Some of the reporting recently 00:04:39.946 --> 00:04:42.682 talked about 12 buildings. 00:04:42.749 --> 00:04:44.751 But tell us about what this 6 00:04:44.817 --> 00:04:48.688 acre or so site will look like 00:04:48.755 --> 00:04:48.921 for some 00:04:48.988 --> 00:04:52.825 >> It is an exciting move for 00:04:52.892 --> 00:04:56.496 RCR, and North Carolina is 00:04:56.562 --> 00:04:58.965 growing, and the Indiana site 00:04:59.032 --> 00:05:00.266 here in Lebanon is actually two 00:05:00.333 --> 00:05:00.833 different reduction sites in 00:05:00.900 --> 00:05:01.167 one location. 00:05:01.234 --> 00:05:02.835 -- 00:05:02.902 --> 00:05:05.872 production sites. 00:05:05.938 --> 00:05:09.042 One of them is an active 00:05:09.108 --> 00:05:11.444 pharmaceutical production site 00:05:11.511 --> 00:05:12.478 for therapeutics and some of 00:05:12.545 --> 00:05:14.247 our newer technologies, 00:05:14.313 --> 00:05:14.847 accusing RNA to make medicines 00:05:14.914 --> 00:05:16.849 -- 00:05:16.916 --> 00:05:22.922 like using RNA. 00:05:22.989 --> 00:05:23.523 We have a site really focused 00:05:23.589 --> 00:05:25.258 on gene production. 00:05:25.324 --> 00:05:25.391 -- 00:05:25.458 --> 00:05:29.262 we have. 00:05:29.328 --> 00:05:32.665 This is adjacent to the LEAP 00:05:32.732 --> 00:05:33.266 project, which we are excited 00:05:33.332 --> 00:05:35.902 about, forming a cluster. 00:05:35.968 --> 00:05:37.704 I know you had a new president 00:05:37.770 --> 00:05:43.242 on the so-called hardtack core 00:05:43.309 --> 00:05:45.178 door, for Purdue on one end the 00:05:45.244 --> 00:05:47.080 logistics powerhouse we have in 00:05:47.146 --> 00:05:51.084 Indianapolis and then right in 00:05:51.150 --> 00:05:55.655 between me LEAP District, where 00:05:55.722 --> 00:05:56.289 we can have a high-tech biotech 00:05:56.355 --> 00:05:58.891 Manufacturing site for the 00:05:58.958 --> 00:06:02.295 states. There are many benefits 00:06:02.361 --> 00:06:02.929 to clustering, and this will be 00:06:02.995 --> 00:06:03.963 our loudest site in the Lilly 00:06:04.030 --> 00:06:05.631 network. -- 00:06:05.698 --> 00:06:08.468 biggest. 00:06:08.534 --> 00:06:08.968 So we are excited to get 00:06:09.035 --> 00:06:15.007 wrapped up. 00:06:15.074 --> 00:06:15.608 >> Yes, you mentioned the new 00:06:15.675 --> 00:06:16.242 Chancellor, he has a very clear 00:06:16.309 --> 00:06:21.047 vision of what he wants to see. 00:06:21.114 --> 00:06:21.647 We had a money show two weeks 00:06:21.714 --> 00:06:23.716 ago. Here's what he had to say: 00:06:23.783 --> 00:06:24.317 >> 22 miles, there will be a 00:06:24.383 --> 00:06:26.285 hard line, and it will be 00:06:26.352 --> 00:06:26.886 hardtack as in technology you 00:06:26.953 --> 00:06:30.490 can touch. 00:06:30.556 --> 00:06:34.861 He can be many sectors, it can 00:06:34.927 --> 00:06:35.394 be Manufacturing, farming, 00:06:35.461 --> 00:06:37.663 logistics and aerospace, and 00:06:37.730 --> 00:06:41.067 this 63 mile stretch including 00:06:41.134 --> 00:06:41.701 a whole section of the Chambers 00:06:41.768 --> 00:06:45.071 LEAP District in Lebanon -- 00:06:45.138 --> 00:06:46.539 LEAP District in Lebanon, this 00:06:46.606 --> 00:06:48.875 will stretch! 00:06:48.941 --> 00:06:51.844 The stretch will define our 00:06:51.911 --> 00:06:54.480 state. 00:06:54.547 --> 00:06:55.114 >> I don't know if you can her 00:06:55.181 --> 00:06:57.650 that sound right there David? 00:06:57.717 --> 00:07:01.454 >> I watched it earlier. 00:07:01.521 --> 00:07:02.021 >> Ya, he releases that as 00:07:02.088 --> 00:07:06.492 potential. -- 00:07:06.559 --> 00:07:08.895 he really sees for some before 00:07:08.961 --> 00:07:11.597 you go, the Indiana legislator 00:07:11.664 --> 00:07:12.665 is looking at several bills. 00:07:12.732 --> 00:07:15.101 The Indiana Journal came up 00:07:15.168 --> 00:07:19.138 with a recent opinion piece 00:07:19.205 --> 00:07:19.772 talking about the Senate bill a 00:07:19.839 --> 00:07:24.076 tightening restrictions on 00:07:24.143 --> 00:07:24.644 pharmacy manufacturers, also 00:07:24.710 --> 00:07:27.046 charging hospitals more than 00:07:27.113 --> 00:07:29.482 260% of Medicare reimbursements. 00:07:29.549 --> 00:07:31.617 What are your thoughts on the 00:07:31.684 --> 00:07:32.185 bills been discussed at the 00:07:32.251 --> 00:07:34.253 Indian estate House? 00:07:34.320 --> 00:07:34.554 >> Yeah -- 00:07:34.620 --> 00:07:36.923 estate House? 00:07:36.989 --> 00:07:38.825 -- 00:07:38.891 --> 00:07:43.596 estate House -- 00:07:43.663 --> 00:07:50.436 State House. 00:07:50.503 --> 00:07:51.070 >> Policymakers need to look at 00:07:51.137 --> 00:07:53.439 factors be on tax, these 00:07:53.506 --> 00:07:53.906 include education and 00:07:53.973 --> 00:07:55.675 healthcare costs. 00:07:55.741 --> 00:07:58.878 Need a better educated 00:07:58.945 --> 00:07:59.478 workforce and lower healthcare 00:07:59.545 --> 00:08:01.747 costs in the state. 00:08:01.814 --> 00:08:04.083 This could come for me Friday 00:08:04.150 --> 00:08:05.151 means, or healthier whose years, 00:08:05.218 --> 00:08:10.089 we are all there for that -- 00:08:10.156 --> 00:08:12.725 were healthier -- 00:08:12.792 --> 00:08:15.494 more healthier Hoosier's. 00:08:15.561 --> 00:08:17.530 But it is also good for our 00:08:17.597 --> 00:08:18.130 citizens to have a functioning 00:08:18.197 --> 00:08:20.666 healthcare system. 00:08:20.733 --> 00:08:22.668 So we apply those efforts, we 00:08:22.735 --> 00:08:23.269 do not have a particular view 00:08:23.336 --> 00:08:27.673 on either one of those things. 00:08:27.740 --> 00:08:31.277 But aiming at lowering 00:08:31.344 --> 00:08:31.911 healthcare costs, Eli Lilly and 00:08:31.978 --> 00:08:33.479 Company is offered. 00:08:33.546 --> 00:08:34.046 >> I really appreciate you 00:08:34.113 --> 00:08:35.114 taking the time Dave.