Lilly Unveils Blueprint for Speeding Innovative Medicines t...(olecules over the next decade and bring ...),Health

Explaining the need for such changes, Lechleiter noted that the global pharmaceutical industry is facing unprecedented challenges - slowing innovation, rising costs, patent expiries and increased generic competition, demands from payers to deliver greater value, and health care reform. These forces are reducing industry growth rates and profitability. Lilly faces these and its own challenges, including a series of patent expirations for key products beginning in late 2011.

"While our financial performance during the past few years has been strong, we will soon enter the most challenging period in our company's history. This calls for strong measures to speed our output of new medicines, better meet the changing needs of our customers and reduce our costs," Lechleiter said.

Among a number of growth options that could be considered, Lechleiter said management is convinced that Lilly's promising pipeline of early- and mid-stage molecules offers the best possible opportunity for sustainable long-term growth.

"This is a pivotal moment for our company," said Lechleiter. "The need for breakthrough medicines - to help aging populations, to provide trea
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