On September 14, 2009
Lilly Plans 5,500 Layoffs as Company Heads Over Zyprexa Patent Cliff
Eli Lilly CEO John Lechleiter told Reuters he needs to cut 5,500 jobs from the company’s workforce, that’s 1,500 more than the 4,000 pharmaceutical sales reps who were offered buyouts in August. The move was expected, as Gemzar, Zyprexa and Cymbalta were set to see their patents expire in late 2010, late 2011 and 2014, respectively.
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