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Valley Public Radio Staff
Fri April 12, 2013
Originally published on Fri April 12, 2013 8:25 am
DAVID GREENE, HOST:
NPR's business news starts with layoffs at Eli Lilly.
(SOUNDBITE OF MUSIC)
GREENE: 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. Transcript provided by NPR, Copyright NPR.