Drugmaker Bristol-Myers Squibb Co. plans to close one of its southern Indiana facilities and cut jobs at another.
Excluding special items, Eli Lilly and Co.’s earnings per share spike 22 percent on the strength of Alimta, Cymbalta and Humalog
sales. Lilly’s revenue rose 7 percent in the quarter over the same period of 2008,
to $5.56 billion.
A decision by a federal judge in Indianapolis to turn back a patent challenge to Eli Lilly and Co.’s Evista marks a major
victory for the company, says an analyst who closely follows the pharmaceutical industry.
Migraines cost American employers $20 billion a year in decreased worker productivity. Such
a frequent and uncured disease stands as a huge business opportunity for the health care industry, including locally based pharmaceutical giant Eli Lilly and Co.
Since John Lechleiter was named CEO 18 months ago, he’s bet that Eli Lilly and Co. could face down its looming patent challenges
by launching innovative new medicines. Today’s announcement of 5,500 job cuts by the end of 2011 and a restructuring of the
company’s business units ups the ante on that bet, while indicating that it isn’t working yet.
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue
from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central
Indiana. But with
13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
Eli Lilly and Co. paid doctors in South Carolina for participating in a speakers’ program in exchange for prescribing the
antipsychotic Zyprexa, according to notes by Lilly sales representatives reviewed by Bloomberg News.
Pfizer Inc., the world’s largest drug maker, will pay a record $2.3 billion civil and criminal penalty over unlawful prescription
drug promotions, the Justice Department announced today.