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Lose patents, lose jobs

By Lawrence B. Ebert, Esq.

On the announcement that Lilly will cut about 5,500 jobs, or 14 percent of its workforce:

Chris Schott, an analyst with JP Morgan Chase & Co.: ?Lilly?s move is consistent with announcements by its major pharma peers and was to some degree inevitable given the company?s 2011-2014 patent cycle.?

OR as Lilly CEO John Lechleite put it:

?The major emphasis is to prepare us to enter what?s going to be a challenging period for the company, as we see patent expirations, and to speed up new products as we enter that period."

Full post as published by IPBiz on September 19, 2009 (boomark / email).