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TOP NEWS
Eli Lilly & Co
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 02/10/2009
[Company watch]
Eli Lilly will Double China Workforce
Eli Lilly plans to double its workforce inside of China this year, bringing the total up to 2,000. At the same time, the company announced a 5,500 employee reduction in its worldwide staff count that will help trim $1 billion in annual costs.
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Eli Lilly plans to double its workforce inside of China this year, bringing the total up to 2,000. At the same time, the company announced a 5,500 employee reduction in its worldwide staff count that will help trim $1 billion in annual costs.
Inside China, Lilly will double its sales force from 800 to 1600 so that it can expand its coverage in central and western areas of the country. The company will also add operations and accounting personnel. With its growth, Lilly China says its needs more people in all positions. And the company is investing $42 million to add on to its Suzhou manufacturing facility.
Lilly’s R&D operations follow the virtual model – the company has only about ten R&D personnel in China – so hiring in this area will be minimal. Despite the small number of R&D employees, Lilly China expects to spend $100 million in China-based R&D between 2008 and 2012.
The parent company faces the loss of half its revenue from well-established drugs in the next few years. Lilly will lose patent protection on its blockbuster anti-psychotic drug Zyprexa in 2011. Three other important drugs — the antidepressant Cymbalta, Humalog insulin and cancer drug Gemzar — will be eligible for generic competition in 2013. Altogether, the four drugs brought in $10.9 million in 2008.
Worldwide, Lilly\'s 14% layoff will be completed by the end of 2010 and bring the total number of Lilly’s employees down to 35,000 – though Lilly admitted the lower number does not reflect its staffing buildup in developing areas. |
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