'Voluntary Reallocation' to Cost 200 Global Lilly Jobs

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Laboratory image courtesy of Eli Lilly and Co. Laboratory image courtesy of Eli Lilly and Co.

Eli Lilly and Co. (NYSE: LLY) says is reducing its global research and development work force by 200. The company says it has launched what it calls a voluntary reallocation program focused on "new R&D capabilities to ensure portfolio sustainability."

The company says it will boost investment and hiring later this year in areas such as: molecule-making capabilities, immunology and Alzheimer's disease.

A spokeswoman with Lilly says the effect on the R&D work force in Indianapolis will vary depending on how many employees accept the reallocation. The cuts represent under 3 percent of Lilly's global R&D headcount. Regardless of the outcome, Lilly says Indianapolis will remain the company's largest site for R&D. An expanded facility in Indy is on-track to open early next year.

The announcement is separate from a January announcement that 485 field-based jobs (75 in Indiana) would be reduced in its U.S. Bio-Medicines business as a result of the discontinuation of further development of solanezumab, a potential Alzheimer's treatment that received disappointing results in late-stage trials.

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