Indianapolis-based Eli Lilly and Co. (NYSE: LLY) Chief Executive Officer John Lechleiter says the drug maker is back in growth mode after a painful period of “building a bridge while we crossed it.” In a speech today to the Economic Club of Indiana, Lechleiter said Lilly is stronger and ready for the future after enduring the so-called “YZ Years,” the period between 2011 and 2014 in which Lilly lost patents accounting for about 40% of its revenues.
Lechleiter first spoke to the Economic Club in 2008, shortly after becoming CEO. The U.S. economy was heading into deep recession and Lilly was preparing for perhaps the most difficult period in the company’s history.
This weekend on Inside INdiana Business Television, Gerry Dick sits down with Lilly’s top man to talk about the challenges of the “YZ Years,” and prospects for growth, including the role of technology. “I think there are some very interesting opportunities when you look at what a Google or an Apple can bring,” said Lechleiter.
He also talks candidly about the importance of being actively involved in hot-button issues like education and the RFRA debate. “I think the important thing is, we did reach a compromise,” said Lechleiter regarding Lilly’s active role in brokering an RFRA compromise. “I think we’ve set the stage for another round of discussions coming up.”
You can connect to a copy of Lechleiter’s presentation to the Economic Club of Indiana by clicking here.
In an interview to air this weekend on Inside INdiana Business Television, Lechleiter says Lilly went through some “scary” years.