Friday, February 03, 2012

Eli Lilly To Freeze Base Pay For Most Employees In 2012 -

Eli Lilly & Co. (LLY) will freeze base pay for most of its employees in 2012, citing financial pressures caused by patent expirations on top drugs.

The Indianapolis drug maker recently lost U.S. patent protection for its former No. 1 product, the antipsychotic Zyprexa, triggering generic competition that is expected to contribute to a decline in profit and sales for 2012.

Posted via email from Jack's posterous

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