During a presentation to investors Tuesday, Indianapolis-based pharmaceutical company Eli Lilly outlined an ambitious plan to launch up to 20 new drugs by 2023, according to Fortune.
In addition, the company stated it hopes to add more uses for its existing drugs to enhance those drugs' durability in the market.
For its new drugs, Eli Lilly officials said the company would focus on key areas, including diabetes, oncology and neurodegenerative diseases like Alzheimer's and immunology. They added the company hopes the emerging focus on non-opioid pain medications will lay the foundation for the demand of new drugs.
"There are no guarantees given the nature of science and of our business," said Eli Lilly CEO John Lechleiter, according to Fortune. "However, in looking at our recent launches and current pipeline, we believe we are in the midst of the most prolific period of new launches in our company's 140-year history.
The firm's goal is lofty considering it had just one new therapy approved in 2015 — the advanced lung cancer drug, Portrazza, according to Fortune. A large proportion of Lilly's revenues has come from drugs that are more than 10 years old, according to the report.