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.

Related UPI Stories
Topics: Eli Lilly
Latest Headlines
Trending Stories
Study of antibodies in HIV patient may help lead to vaccine
Pepsi to launch own smartphone
History Channel special reveals Alcatraz escapees may have survived
Multiple attacks escalate Jerusalem violence; gun restrictions could ease
Genetic changes could make pig organs usable for human transplant