At a recent shareholder's meeting, the Indianapolis Star reports, Eli Lilly CEO Sidney Taurel admitted that this has been the toughest year he's faced in the 35 years that he's been working in the drug industry.
The shareholders apparently greeted with "polite applause" news that the company has achieved over $250 million in productivity gains this year, and has developed a new approach to drug development that will reduce costs by $400 million. (Perhaps some of the shareholders should learn how difficult it is for those working on the front lines, in development labs and pilot plants, and on the plant floor, to achieve, and sustain, improvements of this scale? Maybe it's time for a P.R. effort---without the sales people. )
-AMS
