Eli Lilly and Company (LLY) To Cut Up To 100 Indy Jobs, Send Some Work Overseas
7/22/2014 8:55:34 AM
Eli Lilly and Co. will send some drug production overseas and cut up to 100 Indianapolis jobs under a plan to "re-balance" its tablet and capsule manufacturing business.
The expiration of patents on several Lilly drugs, which sent their sales plummeting, is part of the reason for the restructuring. The drugmaker also has been turning its Indianapolis manufacturing operations off Harding Street into a campus that's more oriented toward making insulin and other biotech products and less focused on pills sold in the form of tablets and capsules.
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