Issue Date: October 27, 2014
Lilly Consolidates Puerto Rico Plants
Eli Lilly & Co. is closing one of its three plants in Puerto Rico. Lilly attributes the closure of the site, in Guayama, to generics competition and a shift in its pipeline toward insulin and biologics. The site’s 100 full-time workers will be offered jobs at the firm’s two plants in Carolina, P.R. Lilly, which hopes to sell the Guayama site, will take a $170 million pretax charge in the fourth quarter.
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