... and Lilly cuts European R&D

Eli Lilly plans to consolidate its European operations, cutting some 900 jobs in the process. The company has proposed closing a manufacturing site in Basingstoke, England, and two R&D sites, one in Hamburg, Germany, and the other in Mont-Saint-Guibert, Belgium. Research programs at those facilities would largely be absorbed by its U.S. operations. Lilly says the proposed cutbacks are driven by the need to improve efficiency in an increasingly challenging environment for drug companies. At the same time, Lilly plans to invest $50 million to expand its clinical research facility in Bad Homburg, near Frankfurt.