BioCentury
ARTICLE | Company News

Lilly suspending raises in 2014 ahead of patent expirations

July 19, 2013 12:18 AM UTC

Eli Lilly and Co. (NYSE:LLY) said it is suspending base pay increases for most employees including executives in 2014 to curb the impact of the expiration of U.S. patents for neurology drug Cymbalta duloxetine and osteoporosis and cancer drug Evista raloxifene. The pharma said it expects the move to save about $400 million through 2016. ...