When Eli Lilly announced last October that it was buying Icos, it made no secret of the fact that it was primarily interested in gaining complete control of their jointly marketed ED drug. It turns out that they're not at all interested in the company's workers. All 700 people employed at Icos' Bothell, WA offices have been notified that they will be laid off once the $2.1 billion buyout is approved by shareholders. The vote is scheduled for next Tuesday, just a week before Christmas.
- read the AP report [1] on the company-wide pink slip
Related Article:
Lilly buying Icos in $2.1B deal. Report [2]
Links:
[1] http://www.chron.com/disp/story.mpl/ap/fn/4398089.html
[2] http://www.fiercebiotech.com/story/lilly-buying-icos-in-2-1b-deal/2006-10-17