Lilly triples investment in growing market for diabetes products
Saturday, November 23, 2013
"We're doubling down on insulin, and diabetes," Enrique Conterno, the head of Lilly's diabetes business, said in a telephone interview. The $700 million brings to $1 billion the amount Lilly is spending on insulin manufacturing this year.
The number of diabetics worldwide is projected to grow to 592 million in 2035 from 382 million this year, according to a report released today by the International Diabetes Federation. Those rates are growing rapidly in emerging markets, with 80 percent of diabetics living in low- or middle-income countries, the foundation said."