In Lechleiter's final days, Eli Lilly flags upcoming job cuts in the wake of a PhIII implosion
Over the last 4 years Eli Lilly execs have invested hundreds of millions of dollars into its latest Phase III pivotal test for solanezumab, convinced that they were on the right track for bending the curve on Alzheimer’s. The payoff would have come in the form of what some analysts sometimes consider as the golden ticket in biotech, convertible into a multibillion-dollar annual revenue slip.
But the only color staffers may end up looking at now that it has flopped, yet again, is pink, as in pink slips. The company $LLY is being a bit coy about it, but a spokesperson told their home town newspaper is looking at layoffs in the wake of the post mortem on sola.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.