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John Lechleiter

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Lilly CEO to undergo surgery, CFO Rice to become interim CEO

Eli Lilly & Co's longtime Chief Executive John Lechleiter will undergo surgery next Monday for a dilated aorta, but is expected to make a full recovery from the potentially dangerous condition and return to work this summer, the drugmaker said on Monday.Lilly Chief Financial Officer Derica Rice, 48, will assume the additional role of acting CEO during Lechleiter's surgery and recovery period, the Indianapolis drugmaker said.Lechleiter, 59, had no symptoms of the condition, but learned of it during recent unrelated medical testing, Lilly said.Rice and Lechleiter have worked closely together over the past four years in formulating plans to revive Lilly's earnings and sales after ongoing generic competition for some of its biggest drugs, including its Zyprexa schizophrenia drug.Many other large drugmakers have merged with another big pharmaceuticals company in order to withstand their patent cliffs. But Rice and Lechleiter have adamantly insisted that Lilly will remain independent, and de...

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  10. Eli Lilly Predicts Profit Plunge in '12

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  11. Eli Lilly Q3 Net Profit Drops 5%; Sales Rise 9%

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  12. President Obama Signs Patent Reform Bill Into Law

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  1. Lilly CEO Lechleiter to undergo surgery for dilated aorta

    Drug maker Eli Lilly and Co said Chief Executive John Lechleiter will undergo a surgery on May 13 to treat a dilated aorta but is expected to recover and return to w...

  2. Lilly's 4Q Profit Falls on Generic Competition

    Eli Lilly (NYSE:LLY) revealed a 4% decline in fourth-quarter profit due to ongoing effects of the so-called "patent cliff," but still topped Wall Street expectations...

  3. Eli Lilly Forecasts Stronger 2013

    Eli Lilly (NYSE:LLY) reaffirmed its in-line fiscal 2012 guidance on Friday and unveiled an upbeat outlook for the following year.The company also said it continues t...

  4. Eli Lilly to Expand Insulin-Manufacturing Facilities

    Eli Lilly & Co. (LLY) plans to expand its Indianapolis insulin-manufacturing facilities in a multimillion-dollar investment to meet growing demand in the U.S.This ma...

  5. Eli Lilly Alzheimer's Drug Fails in Late-Stage Trial

    Eli Lilly (NYSE:LLY) said on Friday that its experimental treatment for Alzheimer's disease failed to meet two late-stage studies' primary goals, however the drug gi...

  6. Lilly's Alzheimer Shows Promise; Misses Goals

    Eli Lilly & Co. (LLY) said solanezumab, a highly anticipated potential treatment for Alzheimer's disease, failed to reach its set goals in either of two Phase 3 stud...

  7. Bristol-Myers, Lilly Remain Optimistic Despite Patent Woes

    Two major U.S. drug companies took big hits to quarterly profits and sales because patent expirations for their top products cleared the way for generic competition....

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