FDAnews Drug Daily Bulletin

LILLY TO TAKE ASSET IMPAIRMENT CHARGES IN FOURTH QUARTER OF 2005

Dec. 27, 2005
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Eli Lilly and Company LLY announced today that, as part of the company's ongoing efforts to increase productivity and reduce its cost structure, it has finalized decisions that will result in charges in the fourth quarter of 2005, consisting primarily of non-cash charges for the write-down of certain impaired assets. These assets, which have no future use, include manufacturing buildings and equipment no longer needed to supply projected capacity requirements, as well as obsolete research and development equipment.

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