- Evonik acquires Eli Lilly and Company's U.S. Tippecanoe manufacturing site
- Purchase will expand Evonik's exclusive synthesis core business
- Capacity for additional market growth
Essen, Germany-based industrials group Evonik Industries AG has agreed to acquire Indianapolis, Indiana-based Eli Lilly and Company's Tippecanoe Laboratories manufacturing facility in Lafayette, Indiana. The site, which employs about 700, manufactures active pharmaceutical ingredients (API) and precursor materials for the pharmaceutical industry.
The purchase price was not disclosed. The transaction is expected to close by the end of the year, pending approvals from regulatory agencies.
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