India, Oct. 6 -- Eli Lilly & Co., the maker of the blockbuster Mounjaro diabetes drug, plans to invest more than $1 billion for contract manufacturing in India, amid 100% US tariff on the pharma sector.

The Indianapolis, US-based drugmaker will set up a new manufacturing and quality centre in Hyderabad, according to a statement on Monday. The facility will serve as a control centre for the company's contract manufacturing in the world's third largest pharmaceutical industry. Hiring for the Hyderabad office, including engineers, chemists and managers, is expected to start soon.

"We are making significant investments to increase manufacturing and medicine supply capacity around the world," Patrik Jonsson, executive vice president and pres...