Eli Lilly and Co. will freeze salaries for most employees worldwide this year, as sales of its best-selling drug declined
faster than expected after losing patent protection.
John Lechleiter, Lilly’s CEO, requested no increase in his $1.5 million base salary or incentives “in light of
the business challenges the company faces,” the Indianapolis-based drugmaker said Friday in a filing. Lechleiter’s
total compensation will be about $16.4 million, according to the filing.
“Similarly, employees in most countries worldwide, including the named executive officers, will not receive base pay
increases in 2012,” Lilly said. No change was made in how bonuses are structured, Mark Taylor, a spokesman for the company,
said in an e-mail. Lilly has an estimated 38,000 employees, according to data compiled by Bloomberg.
Last month, the company provided 2012 forecasts that missed analyst estimates and said sales of its antipsychotic Zyprexa
were falling faster than expected after facing generic competition beginning in October.
Zyprexa revenue declined 44 percent in the fourth quarter to $749.6 million, the company said on Jan. 31.
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Lilly freezes salaries as generics erode Zyprexa sales
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Maybe they should have sold the naming rights to the new airport terminal, instead of giving it away for nothing to honor some obscure politician.
Rolls Royce Terminal sounds nice, and $10 million a year licensing fee sounds pretty good right now. -
The old airport terminal was a complete dump that was a patchwork of "fixes" over the decades with a confusing and frustrating maze of roads leading to it.
The new airport terminal is well worth it.
It is the first and last impression anyone coming from any real distance remembers of our community.
It is an essential service that is used everyday, unlike the $750 million football stadium. -
Nothing like putting on the Ritz.
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Flipsides Pretzel Crackers
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The new airport was a waste of money and it was a "legacy" project for Bart Peterson. BAA, the former airport operator, did a complete study showing that if the airport spent $275 million on the old terminal, the airport would be better positioned for the future, financially. Bart Peterson and Melina Kennedy felt differently and with the help of Patrick Dooley, then airport director, they set out in spending the money to build the new terminal. No taxpayer money is used to operate the airport, but we all pay for the new and old airport facilities through higher fees.
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Association Between Zyprexa and Hyperglycemia.
There is concern Zyprexa,like other atypical antipsychotic drugs, has the potential to cause metabolic disorders, particularly hyperglycemia (excess sugar) and diabetes. Atypical antipsychotics cause the body to metabolize fat instead of carbohydrates, leading to insulin resistance to the excess carbohydrates. At the same time they promote fat accumulation.I was a patient back in 1996-2000 who was a subject of Eli Lilly's Zyprexa 'viva' Zyprexa' off label sales promotion.I was given it as an ineffective costly treatment for PTSD It gave me diabetes as a side effect.--Daniel Haszard