Lilly cuts 250 jobs and invests €100m at French site
Local media reports revealed the decision was based on a ‘transformative project’ for the Fegersheim site, which produces injectable drugs and employs approximately 1,400 staff.
In a statement, the company said that external pressures on the pricing of products necessitate the reduction of production costs.
The €100m ($114m) investment will see the company focus on bringing in new technology, which will also require the recruitment of staff members with the necessary skills. The funding for the site update will be provided through to 2021.
As a result, the company revealed that 25 new recruits will be hired. However, 250 members of the current site team would have their positions terminated by the end of 2020.
The facility will focus on the manufacture of ‘connected medicine’ for diabetes.
The company has been looking externally to develop innovative means of treating diabetes, such as its licensing deal with Sigilon Therapeutics for its cell therapy treatment.