Eli Lilly and Co. plans to invest $72 million in an insulin manufacturing project at one of its Indianapolis facilities. The investment will be used to replace an existing insulin vial filling line and allows Lilly to expand insulin production, including Humalog and Humulin, and upgrade to new technology and prepare for its insulin pipeline.

"This new project is part of $850 million in anticipated U.S. capital investments which Lilly announced in March of this year. It reinforces our ongoing commitment to the U.S. market and in Indianapolis specifically," said David A. Ricks, Lilly's chairman and chief executive officer. "Our company is poised for continued growth, and diabetes represents one of our key therapeutic areas. Investments such as this are vital to ensuring we continue meeting the needs of people who use our medicines."

Lilly has been researching and producing insulin for 90 years, and the Indianapolis manufacturing facility plays a significant role in the process and insulin supply in the U.S. The company has invested more than $1.2 billion since 2012 to boost its U.S. diabetes product manufacturing operations. Continued U.S. investment can be expected, particularly if favorable tax reform measures are enacted.

"The current U.S. tax reform proposal, developed by the White House and congressional Republicans, would cut the corporate tax rate to 20 percent, put in place a territorial system, and maintain tax credits for research and development. If enacted, these proposed reforms would go a long way toward leveling the playing field for American workers and businesses competing against their foreign peers," said Ricks.