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Eli Lilly mulls European retreat

June 29, 2006 at 9:33 AM

INDIANAPOLIS, June 29 (UPI) -- Indiana's Eli Lilly & Co. has notified various European labor groups that it may close as many as three facilities.

The pharmaceutical giant said it may close research facilities in Belgium and Germany and a British factory to cut development costs from $1.1 billion per drug to $800 million per drug, The Wall Street Journal reported Thursday.

About 900 people could be out of work if all the facilities are closed.

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