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LILLY TO DIVEST MEDICAL DEVICE/DIAGNOSTIC BUSINESSES TO FOCUS ON DRUGS; OTHER RESTRUCTURING TO RESULT IN $1.2 BIL. CHARGE AND LOSS IN 4TH QUARTER

This article was originally published in The Gray Sheet

Executive Summary

Lilly plans to shed its medical device/diagnostics businesses to focus on pharmaceuticals, the firm announced Jan. 18. The widely anticipated decision is the result of a "strategic review" initiated by Lilly execs in June 1993.
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