Eli Lil­ly slash­es R&D jobs, shut­ters 2 re­search sites as it looks to cut 3,500 staffers world­wide

Eli Lil­ly $LLY is slash­ing 3,500 jobs out of the com­pa­ny as it looks to stream­line op­er­a­tions in the wake of Dave Ricks’ move to the helm at the be­gin­ning of this year.

The de­tails are just start­ing to emerge, but the In­di­anapo­lis-based phar­ma gi­ant is mak­ing some deep cuts in R&D, even as Lil­ly vows to keep the fo­cus on new drug de­vel­op­ment.

Lil­ly is clos­ing an R&D group in Bridge­wa­ter, NJ and shut­ter­ing the Lil­ly Chi­na Re­search and De­vel­op­ment Cen­ter in Shang­hai, mark­ing an­oth­er re­treat in Asia as big phar­ma steps back from some longterm com­mit­ments in the re­gion.

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