UPDATE 1-Lilly CEO Lechleiter to retire; David Ricks to succeed
U.S. drugmaker Eli Lilly and Co said on Wednesday John Lechleiter, its chief executive of eight years, would retire by the end of the year and would be succeeded by senior vice president David Ricks on January 1. Lechleiter, who became the CEO in April 2008, has steered the company through a steep patent cliff by reinvigorating its pipeline. Lilly has made great progress building an R&D engine that has the potential to launch 20 new products in 10 years beginning in 2014, Lechleiter noted in the company's earnings release on Tuesday.
from Biotech News