4 Healthcare Stock Stories for Thursday Investment Wellness
Eli Lilly and Co. (NYSE:LLY): Closing price $49.92
Lilly anticipates the loss of roughly 20 percent of its global revenue in 2014 due to the expiry of key drug patents, and so is suspending base pay increases for the majority of its employees next year to lower costs. At the end of 2013, Lilly’s current largest product, the antidepressant Cymbalta, will lose patent protection, while copied forms of its $1 billion a year Evista osteoporosis drug should emerge in early 2014. The company has also elected to reduce employee bonuses paid out in 2015 for next year.
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