Please login to the form below

Not currently logged in
Email:
Password:

Eli Lilly to cut 5,500 jobs

Eli Lilly and Company plans to reduce costs by £1bn and reduce the head count to 35,000 by the end of 2011

Eli Lilly and Company plans to reduce costs by £1bn and reduce the head count to 35,000 by the end of 2011.

The Indianapolis-based company says changes are needed in order to face the global challenges of the pharmaceutical industry, which include patent expiries and increased generic competition, rising costs and slowing innovation.

The company has announced restructuring plans that will save $1bn and a reduction in the global workforce, excluding strategic sales additions in emerging markets and Japan, by a reported 5,500 jobs resulting in a headcount of 35,000 at the end of 2011.

Lilly plans to establish a Development Center of Excellence, which will be led by Dr Tim Garnett and Dr Tom Verhoeven, focusing on the drug development process. This centre will use one common operating system, have one set of priorities and a singular focus on streamlining new medicine development.

Dr John C Lechleiter, chairman and CEO said: "The changes we are announcing today will accelerate the progress of the most exciting pipeline in our history, with more than 60 molecules currently in clinical development. These changes will also ensure that we meet the changing needs of our customers and operate our business in a manner consistent with an increasingly challenging environment. I have great confidence that these changes will have a very positive impact on the company's future."

Reorganisation will see Lilly move away from a function-orientated model to operating around five global business units: oncology (led by current CEO of ImClone Systems, John H Johnson), diabetes (led by Enrique A Conterno, current president of Lilly USA), established markets (led by Lilly's executive vice president of global marketing and sales, Bryce D Carmine), emerging markets(led by Jacques Tapiero, president of Lilly's intercontinental region), and Elano animal health (led by current president, Jeffrey N Simmons).

14th September 2009

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Lucid Group Communications Limited

WE’RE ON A MISSION To enhance patients’ lives through communication that changes behaviour and improves patient health outcomes....

Latest intelligence

patients
Retaining reader value in plain language summaries of clinical studies
Balancing the risk of misinterpretation with the public’s ability to understand simplified plain-language summaries...
Can we talk about the ego-bias and chemicals influencing your target audience’s behaviour?
Over the Summer, the Page & Page team became fascinated by two books on this very subject. Two books from one author, Dean Burnett, an eminent neuroscientist, lecturing at Cardiff...
Paris
Making Europe a leader in bioscience: boosting trust and opening minds
A vision of Paris as Europe's leading hub for life sciences innovation...

Infographics