Eli Lilly To Lay Off 30 Percent Of U.S. Sales Force
The Indianapolis-based pharmaceutical company announced on Thursday that about 1,000 sales representatives will lose their jobs. The Wall Street Journal reports the company made the move to cut costs so it can better compete with generic drug makers.
DAVID GREENE, HOST:
NPR's business news starts with layoffs at Eli Lilly.
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GREENE: The Indianapolis-based pharmaceutical company announced yesterday that it is laying off 30 percent of its workforce in the United States. Eli Lilly says about 1,000 full-time and contract sales representatives will lose their jobs. The Wall Street Journal reports that the company made the move to cut costs so it can better compete with generic drug-makers. By March, Eli Lilly will lose paten protection on two of its bestselling drugs.
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Correction April 12, 2013
Earlier audio and online versions of this story incorrectly stated that Eli Lilly was laying off 30 percent of its U.S. workforce.