Lilly Cuts Hundreds of Sales Reps Jobs
April 12th, 2013 // 2:47 pm @ marquee
Exclusive cGMP and FDA Compliance News
In the latest reflection of the toll the patent cliff is taking on the pharmaceutical industry, Eli Lilly plans to dismiss hundreds of sales reps tomorrow, a spokesman confirms. Earlier this week, the drugmaker held a conference call to discuss plans for eliminating reps in its BioMedicines division, which includes the cardiovascular, neuroscience and Men’s health units.
The spokesman declined to specify the actual number of job losses, which were discussed on the Cafepharma web site, where reps love to dish. One source, though, indicated the cuts would amount to a net 30 percent reduction in reps in that division. However,  the spokesman did say the diabetes sales force will be expanded to promote a pair of late-stage pipeline drugs, and adds that the cuts do not affect any other sales teams, other corporate functions in Indianapolis, where Lilly (LLY) is headquartered, or other units in other countries.
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The move reflects looming patent expirations for some of its biggest-selling drugs. The patent on the Cymbalta antidepressant, which generated $4 billion in US sales last year – expires in December and then next year, the Evista osteoporosis treatment, which notched $700 million in sales in US sales last year, expires in March 2014 (see page 28 here). Two years ago, the patent on the Zyprexa antipsychotic expired.
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