Eli Lilly to Reduce Jobs by 14%
By the end of 2011, the giant drug maker Eli Lilly is set to cut down its work force by 14%, which means that nearly 5,500 of Lilly’s employees will lose their jobs.
Lilly’s objective from this move is to cut their annual costs by $1 billion, as many of their best sellers will lose patent protection in a couple of years.
The company will also restructure itself into five units: cancer, diabetes, emerging markets, established markets, and Elanco (Lilly’s animal health business).
They also plan to get quick approval for new medications and bring them into the U.S. and global market.
Read more about Eli Lilly plans at NY Times.
Cialis Getting Closer to Viagra in Sales
Since Eli Lilly’s recent introduction of the brand new once-a-day Cialis and their sales of this medication have been going up and up. Just in the Q2 of 2009, Cialis sales went up by 16% in the US, while Viagra’s increase was only 4% (Lilly Q2 report).
Many experts expect Cialis to overthrow Pfizer’s little blue pill (Viagra) in the upcoming years, which just makes sense.
Lilly has been more creative with their brand and advertisements for Cialis than Pfizer has been with their Viagra plans.
If Pfizer does not start getting more creative and creating more compelling commercials for their erectile dysfunction drug, Cialis will very soon take over Viagra’s spot as the #1 ED medication.