Prozac maker hires 5,000

Prozac: Yesterday's story

The US drug maker Eli Lilly has announced radical plans to move its business forward after generic competition has hammered the sales of its successful Prozac antidepressant drug.

"Prozac is clearly yesterday's story," said chairman and chief executive Sidney Taurel.

Eli Lilly aims to double its sales and marketing budget by 2003 compared with its 1999 budget.

As part of the push, the company will add 5,000 staff to its sales force.

Eli Lilly's current sales force of 13,500 has already grown sharply from about 9,500 two years ago.

New drugs

The company also aims to develop a new range of nine new, experimental medicines.

"We have to focus on new opportunities," said Mr Taurel.

The company hopes that the experimental drugs, along with its recently launched schizophrenia drug Zyprexa and cancer drug Gemzar and three other drugs, will help drive sales growth.

Analysts will be keen to find out whether these drugs can make up for the slump in Prozac sales.

One estimate, by the investment bank ABN Amro, suggests that the drugs could boost sales from about $5.7bn this year to $9.43bn in 2003.

But first, the drugs have to pass two tough tests of clinical trials and a review by the US regulator.