"While our structure and approach served us well in the past, we must take measures now that will make us leaner, more focused, more customer-oriented, and more competitive," said Lechleiter. "The changes we're making will simplify our organization, clarify accountability and authority, and speed decision making."
Lechleiter said the move to business units combined with a lower cost structure will allow Lilly to deliver valued innovation quicker and at less cost and thus provide greater value to customers. The realigned organization will focus on speeding delivery of innovative medicines to market; establishing leadership positions in cancer and diabetes therapies; realizing the opportunity for growth in emerging markets and the company's animal health business; and introducing new products in the company's largest base, the established markets.
Activities are currently under way to put the new operating model in place, with the goal of transitioning to the new organization on January 1, 2010. On December 10, 2009, at the company's annual investment community day in New York City, company leaders will present additional details of the changes announced today.
"These changes will challenge us and require new ways of thinking and acting," concluded Lechleiter. "Under this new operating model, Lilly has the opportunity not only to better navigate this uncertain, challenging time, but to emerge with renewed strength and focus."
In connection with today's announcement, the company confirmed its previous 2009 earnings per share g
|SOURCE Eli Lilly and Company|
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