Eli Lilly has unveiled a new operating model with a series of changes to speed medicines from its pipeline to patients.
Lilly says its plan hinges on establishing a development centre of excellence to streamline and accelerate late-stage development of new medicines and a reorganisation of its pharmaceutical business into four business units.
These units will operate alongside the Elanco animal health business unit. In addition, the company has set a goal to significantly reduce its cost structure by the end of 2011.
"We remain confident that continued focus on medical innovation is the best way to ensure the long-term growth of our company," said John C Lechleiter, PhD, the drug maker's chairman and CEO.
Lechleiter said, "The changes we are announcing today will accelerate the progress of the most exciting pipeline in our history, with more than 60 molecules currently in clinical development. These changes will also ensure that we meet the changing needs of our customers and operate our business in a manner consistent with an increasingly challenging environment.''
To achieve these objectives, Lilly has outlined the following measures:
- Establish a development center of excellence (COE) to help address the industry-wide challenge of a drug development process that is increasingly complex, slow and expensive.