Eli Lilly Announces $3.5B Plant in Pennsylvania, AmEx Profits Surge 13%

Drugmaker expands domestic production as obesity and diabetes treatments drive sales; Credit card giant benefits from well-to-do customers' heavy spending.

Jan. 30, 2026 at 4:23pm

Got story updates? Submit your updates here. ›

Pharmaceutical company Eli Lilly and Co. announced plans to build a $3.5 billion manufacturing facility in Fogelsville, Pennsylvania, as it expands domestic production to meet surging demand for its obesity and diabetes treatments. Meanwhile, American Express reported a 13% increase in fourth-quarter profits, driven by its well-to-do clientele's heavy spending on their credit cards.

Why it matters

Lilly's new plant reflects the company's efforts to capitalize on the growing market for obesity and diabetes drugs, while AmEx's strong earnings highlight the continued resilience of high-end consumer spending despite economic uncertainty.

The details

Lilly's new facility in Fogelsville will produce injectable drugs and devices, including the company's once-a-week injectable weight-loss drug retatrutide, which is still under study. Construction is expected to begin this year and be completed by 2031. AmEx's fourth-quarter profits grew to $2.46 billion, or $3.53 per share, up from $2.17 billion, or $3.04 per share, in the same period a year earlier. The credit card company's customers spent $506.2 billion on their cards in the fourth quarter, up from $464 billion a year ago.

  • Construction on Lilly's new Pennsylvania plant is expected to begin in 2023 and be completed by 2031.
  • AmEx reported its fourth-quarter 2025 earnings on January 30, 2026.

The players

Eli Lilly and Co.

A pharmaceutical company that manufactures obesity and diabetes treatments, including the weight-loss drug Zepbound and the diabetes drug Mounjaro.

American Express

A credit card company that caters to a well-to-do clientele, benefiting from their heavy spending on luxury goods, restaurants, and travel.

Got photos? Submit your photos here. ›

What’s next

Lilly's new plant in Pennsylvania is expected to be completed by 2031, and the company's other domestic expansion projects in Texas, Virginia, Alabama, and Indiana are also ongoing.

The takeaway

Lilly's investment in a new $3.5 billion manufacturing facility in Pennsylvania and AmEx's strong earnings highlight the continued growth in the pharmaceutical and high-end consumer spending sectors, even in the face of broader economic uncertainty.