Eli Lilly (NYSE: LLY ) intends to lay off salespeople as it faces pending U.S. patent expirations. The company is "restructuring its sales force to adapt to changing customer realities, evolutions in the health care environment and upcoming loss of exclusivity for two major products," according to a statement from J. Scott MacGregor, Lilly USA communications director.
The two biomedicine drug patents at issue are Cymbalta, which expires in December, and Evista, which expires in March 2014. Employees were notified of the sales force reduction on Wednesday. The Associated Press reports the job cuts will happen by July 1.
MacGregor also noted the planned expansion of the company's diabetes sales force for�the planned launches of two diabetes-related medicines that "are in our late stage pipeline." He would not confirm the number of sales representatives the company intends to release due to the U.S. patent expiration, or the number of additions to its diabetes unit.
Top 10 High Tech Stocks To Own Right Now: Majesco Entertainment Company(COOL)
Majesco Entertainment Company develops and markets video game products primarily for family oriented mass-market consumers. The company publishes video games for various interactive entertainment hardware platforms, including Nintendo?s DS, DSi, and Wii; Sony?s PlayStation 3 and PlayStation Portable; Microsoft?s Xbox 360; and personal computers. It also publishes games for various digital platforms consisting of mobile platforms comprising iPhone, iPad, and iPod Touch, as well as online platforms, including Facebook. The company sells its products primarily to retail chains, specialty retail stores, video game rental outlets, and distributors. The company was founded in 1998 and is based in Edison, New Jersey.
Top 10 High Tech Stocks To Own Right Now: Mindax Ltd(MDX.AX)
Mindax Limited engages in the exploration of mineral properties in Western Australia. The company primarily explores for copper, iron, gold, and uranium ores. Its principal projects include the Mt Forrest iron project located in the northern part of Central Yilgarn Iron Province; the Yilgarn-Avon uranium joint venture project situated in the palaeochannels of southwest of Western Australia; and the Mortlock copper-gold project in the Goomalling area located to the north-east of Perth. The company was founded in 2003 and is based in West Perth, Australia.
Top 10 Growth Stocks To Buy Right Now: Vision-Sciences Inc.(VSCI)
Vision-Sciences, Inc., together with its subsidiaries, designs, develops, manufactures, and markets products for endoscopy primarily in the United States and Europe. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, and sells endoscopy-based products, including flexible endoscopes, and sheath or EndoSheath disposable for ear, nose and throat (ENT), Urology, and pulmonology markets. This segment sells its endoscopy systems and related products to various end users consisting of ENT doctors, urologists, gastroenterologists, primary care physicians, bariatric surgeons, pulmonologists and other airway management doctors in hospitals, medical clinics, and physicians? private offices. The Industrial segment designs, manufactures, and markets flexible borescopes under the Machida brand to various users, primarily in the aircraft engine manufacturing and aircraft engine maintenance industries. This segment offers various products comprising modular, slim levers, knobs, battery operated portable flexible borescopes, industrial videoscopes, and portable video processors primarily for use in the inspection of aircraft engines, casting parts, and ground turbines. The company sells its products through direct sales representatives in the United States and independent distributors internationally. Vision-Sciences, Inc. was founded in 1987 and is headquartered in Orangeburg, New York.
Top 10 High Tech Stocks To Own Right Now: Finlay Minerals Ltd (FYL.V)
Finlay Minerals Ltd. engages in the acquisition and exploration of base and precious metal deposits in northern British Columbia, Canada. The company focuses on the exploration for gold rich copper porphyry, epithermal gold, and mesothermal silver-copper targets, as well as explores for zinc, lead, and tungsten deposits. The company primarily holds interests in the Pil property covering an area of approximately 15,983 hectares located in the Toodoggone region of northern British Columbia; and the Atty property situated in the southern part of the Toodoggone mining district of northern British Columbia. Finlay Minerals Ltd. is based in Vancouver, Canada.
Top 10 High Tech Stocks To Own Right Now: Sunesis Pharmaceuticals Inc.(SNSS)
Sunesis Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. The company?s principal product includes Vosaroxin, an anti-cancer quinolone derivative for the treatment of acute myeloid leukemia (AML). It is conducting various clinical trials of Vosaroxin, including Phase II clinical trial, known as VALOR trial in combination with cytarabine for the treatment of patients with relapsed or refractory AML; and a Phase II clinical trial, known as REVEAL-1 in previously untreated patients of age 60 years or older, as well as completed a Phase II single-agent trial of Vosaroxin in patients with platinum-resistant ovarian cancer. In addition, the company is conducting a Phase II/III trial, known as the Less Intensive 1 in patients older than 60 years with AML or high-risk myelodysplastic syndrome. It has a license agreement with Dainippon Sumitomo Pharma Co. , Ltd. for the development and commercialization of Vosaroxin; a collaboration agreement with Millennium for the development of pan-Raf kinase inhibitor and one additional undisclosed kinase inhibitor program in oncology; and a collaboration agreement with Biogen Idec, Inc. to discover, develop, and commercialize small molecule inhibitors of a preclinical kinase inhibitor program in immunology. The company formerly known as, Mosaic Pharmaceuticals, Inc., was founded in 1998 and is headquartered in South San Francisco, California.
Top 10 High Tech Stocks To Own Right Now: Holly Energy Partners L.P. (HEP)
Holly Energy Partners, L.P. operates a system of petroleum product and crude oil pipelines, storage tanks, distribution terminals, and loading rack facilities. As of December 31, 2009, its pipeline assets included approximately 820 miles of refined product pipelines that transport gasoline, diesel, and jet fuel in the metropolitan and rural areas of Texas, New Mexico, Arizona, Colorado, Utah and northern Mexico; approximately 510 miles of refined product pipelines that transport refined products in Texas and Oklahoma; 3 parallel 65 mile pipelines that transport intermediate feedstocks and crude oil to petroleum refinery facilities; approximately 960 miles of crude oil trunk, gathering, and connection pipelines located in west Texas, New Mexico, and Oklahoma that deliver crude oil to refineries; approximately 10 miles of crude oil and refined product pipelines in Salt Lake City, Utah; and gasoline and diesel connecting pipelines located in Tulsa, Oklahoma. The company?s ref ined product terminals and refinery tankage assets comprised four refined product terminals with an aggregate capacity of approximately 1,000,000 barrels in Texas, New Mexico, and Arizona; three refined product terminals with an aggregate capacity of approximately 500,000 barrels in Idaho and Washington; one refined product terminal with a capacity of 120,000 barrels in Idaho; two refined product terminals with aggregate capacity of 480,000 barrels in Texas; a refined product truck loading rack facility; a jet fuel terminal; on-site crude oil tankage having an aggregate storage capacity of approximately 600,000 barrels; and on-site refined product tankage having an aggregate storage capacity of approximately 1,400,000 barrels. HEP Logistics Holdings, L.P. serves as general partner of the company. Holly Energy Partners was founded in 2004 and is based in Dallas, Texas.
Top 10 High Tech Stocks To Own Right Now: Montefibre(MFBI.MI)
Montefibre S.p.A. produces and sells polyster and acrylic fibres in Italy. The company?s products are used in apparel and knitwear, automotive, medical and hygienic, building and geotex, filtration, outdoor fabrics, home textiles, oeko textiles, and interlining applications. It offers its products under the Lotan, Leacril, Myoliss, and Ricem names. The company was founded in 1918 and is headquartered in Milan, Italy. Montefibre S.p.A. is a subsidiary of Orlandi S.p.A.
Top 10 High Tech Stocks To Own Right Now: American National Insurance Company (ANAT)
American National Insurance Company, together with its subsidiaries, provides insurance products and services in the United States, the District of Columbia, Puerto Rico, Guam, and American Samoa. The company operates in five segments: Life, Annuity, Health, Property and Casualty, and Corporate and Other. The Life segment offers individual and group life insurance products, including universal life, variable universal life, whole life, and term life; and credit life insurance. The Annuity segment provides fixed annuities comprising single premium immediate annuities, deferred annuities, and equity-indexed annuities, as well as variable annuities to individuals and institutional investors. The Health segment offers medicare supplement, supplemental insurance, medical expense, stop-loss, and credit disability insurance. The Property and Casualty segment provides auto insurance, homeowners insurance, agribusiness and commercial insurance, and credit property and casualty insu rance. The Corporate and Other segment offers investment advisory products and services. The company also invests in mortgage loans and real estate properties. It distributes its products through multiple-line agents, career agents, independent agents, third party marketing organizations, and direct sales to the public. The company was founded in 1905 and is headquartered in Galveston, Texas.
Top 10 High Tech Stocks To Own Right Now: Noman Building Solutions Ltd (NOD.AX)
Nomad Building Solutions Limited, through its subsidiaries, engages in the construction, manufacturing, and property development management businesses in Australia. The company engages in the manufacture of modular transportable buildings; project management and installation; housing construction and property development management; and refurbishment of existing homes and buildings. It designs, manufactures, and constructs various buildings, including bunkhouses, bungalows, chalets, camp housing, transportable offices, kitchens, diners, wet messes, dry messes, lunchrooms, cribs, ice rooms, first aid rooms, laboratories, communications buildings, dirty rooms and clean rooms, toilets and ablution blocks, gyms and TV rooms, and classrooms. The company also builds cottages, cabins, chalets, bungalows, houses, offices, and amenities buildings for clients in a range of industries, such as mining and resources, tourism, education, retirement, construction, and commercial industri es. Nomad Building Solutions Limited is based in Burswood, Australia.
Top 10 High Tech Stocks To Own Right Now: Norseman Gold Plc(NGX.AX)
Norseman Gold plc, through its subsidiary, Central Norseman Gold Corporation Limited, engages in the exploration and development of mineral resources in Australia. The company primarily focuses on gold and silver. It holds interests in the Norseman project covering an area of approximately 2,360 square kilometers comprising 221 tenements that consist of 85 exploration licences, 5 exploration licence applications, 108 mining leases, 3 prospecting licences, 4 prospecting licence applications, 15 miscellaneous licences, and 1 mining lease application located in the southern extent of the Norseman-Wiluna Greenstone Belt of the Eastern Goldfields Province of the Yilgarn Block, Western Australia. The company also holds the Fraser Range projects comprising iron ore located south-east of Norseman. Norseman Gold plc was founded in 2006 and is headquartered in Burswood, Australia.
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