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Lilly Unveils Blueprint for Speeding Innovative Medicines to Patients
Date:9/14/2009

olecules over the next decade and bring innovative medicines to patients sooner.
  • Organize the company around five global business units: oncology, diabetes, established markets, emerging markets, and Elanco animal health, thereby moving from a predominantly functionally-oriented organization to a business-unit structure.
  • Streamline the organization and align corporate and general and administrative functions to support the business with a focus on improved quality, strong customer service and reduced costs.
  • Reduce the company's cost structure by $1 billion and lower global headcount to 35,000 by the end of 2011, excluding strategic sales additions in high-growth emerging markets and Japan.
  • 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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    SOURCE Eli Lilly and Company
    Copyright©2009 PR Newswire.
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