Eli Lilly employees face layoffs due to failed Alzheimer’s drug
INDIANAPOLIS (WISH) — Friday is the deadline for some Eli Lilly workers to either find a new job within the company or be laid off. The layoffs are connected to a promising Alzheimer’s drug, Solanezamab, which failed in trials last year.
Eli Lilly announced the layoffs last year, saying workers have had the past few months to find another job within the company. A spokesperson told 24-Hour News 8 if workers did not find an internal job by the end of March, they would be laid off and given a severance.
Eli Lilly is not revealing how many employees face layoffs or how many found another position within the company. Most of the affected workers were in sales. A spokesperson said the company was expecting Solanezamab to succeed and designated people to sell the drug. Once the drug failed, Eli Lilly shifted resources and no longer needed the sales force.