1340 AM, Tuesday, October 14th, 2008
Eli Lilly Cuts Additional Jobs
Last updated on Friday, December 07, 2007
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(INDIANAPOLIS) - Eli Lilly plans to cut more jobs.
The Indianapolis-based drugmaker is not giving a specific number. A spokesman says the cuts are a continuation of what Lilly's been doing since 2004. Lilly has already cut five-thousand jobs over the last three years.
Lilly says drugs in its late-stage pipeline offer a promising outlook, and it expects to launch six new products within the next five years.
The company is holding its annual meeting on Wall Street today, where it is reconfirming 2007 sales and earnings guidance.
The company says it expects mid-to-high-single-digit sales growth next year with earnings up to four dollars per share.
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