Drug industry analysts on Monday applauded Eli Lilly and Co.’s pending $8 billion cash deal to buy a startup that focuses on oncology, which has become a prime focus for the pharma giant in the last year.
The Memphis, Tennessee-based company did not say how many positions it wants to eliminate or from what locations. But its Indianapolis International Airport hub is part of the Express division that will be targeted for the buyouts.
Local dignitaries and regional clients were expected to be on hand as India-based tech giant Infosys kicked-off construction of its $245 million educational campus. The first phase is scheduled to be done by the end of 2020.
The West Lafayette biotech firm's stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.