DAVID GREENE, HOST: NPR's business news starts with layoffs at Eli Lilly.</s>DAVID GREENE, HOST: The Indianapolis-based pharmaceutical company announced yesterday that it is laying off 30 percent of its workforce in the United States. Eli Lilly says about 1,000 full-time and contract sales representatives will lose their jobs. The Wall Street Journal reports that the company made the move to cut costs so it can better compete with generic drug-makers. By March, Eli Lilly will lose paten protection on two of its bestselling drugs.
The Indianapolis-based pharmaceutical company announced on Thursday that about 1,000 sales representatives will lose their jobs. The Wall Street Journal reports the company made the move to cut costs so it can better compete with generic drug makers.