Cliff Nearing, It's Lilly's Turn to Restructure

01 Oct 2009

Lilly's September reorganization will trim $1 billion in costs, but is as much about enhancing R&D productivity, the drugmaker says.

Teetering on the brink of a vast patent cliff, Eli Lilly & Co. in mid-September announced a reorganization and cost-cutting initiative designed to reduce costs by $1 billion by the end of 2010. The move is as much about enhancing R&D productivity as creating a leaner organization, according to the company.

Like other Big Pharmas who have reshuffled their businesses in recent years—such as Pfizer Inc. and Merck &...