Eli Lilly head of research, development to retire

AP News
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Posted: Nov 13, 2009 11:12 AM

Eli Lilly & Co. said Friday its science and technology head will retire. The drugmaker hired the chief researcher at AstraZeneca PLC to replace him.

Indianapolis-based Lilly said Steven Paul will retire on Feb. 28, 2010. Paul, 59, is in charge of science and technology and president of Lilly Research Laboratories. He will be replaced by Jan Lundberg, head of global discovery research for AstraZeneca.

Paul has been with Eli Lilly since 1993, and he took his current job in 2003. Lundberg has been in his current post at London-based AstraZeneca for 10 years.

Eli Lilly shares rose 37 cents to $35.35 in morning trading.