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Eli Lilly is expanding its global reach: CEO

October 20, 2016
Life sciences

Eli Lilly is expanding its international operations to target diabetes and tuberculosis in areas without access to proper treatment, CEO John Lechleiter said Tuesday.

Lechleiter told CNBC’s “Squawk Box” the pharmaceutical giant will expand a program already in place to provide parts of Brazil, Mexico, South Africa, and India with treatment for Type 2 diabetes.

Lechleiter, who is stepping down as CEO, president and chairman this year, said the company hopes to reach 30 million people on an annual basis by the year 2030.

Lechleiter, who will stay on as nonexecutive chairman, is being replaced by Senior Vice President Dave Ricks. Lechleiter said Ricks, a longtime employee, will be the “perfect person” to lead the company through the numerous product launches it expects by 2023.

The pharmaceutical giant reports earnings on Oct. 25. Analysts expect $3.59 earnings per share, according to Thomson Reuters.

Source: CNBC

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