Eli Lilly (NYSE: LLY) Names David Ricks to Head U.S. Unit

Eli Lilly and Co. (NYSE: LLY) said Tuesday that David Ricks, who is now in charge of its Chinese business, will become president of the U.S. division on Nov. 1, according to Associated Press.

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Ricks has worked at Lilly for 13 years, including managing operations in Canada and China, Lilly said. He will take over for Enrique Conterno as president of Lilly USA. Conterno will become head of the company's diabetes business as part of a reorganization announced earlier in September.

Lilly USA will be part of the established-markets business, which will be lead by Bryce Carmine. The established-markets business will focus on developed markets like the U.S., European Union, and Japan, and will handle marketing of heart and neurological drugs, among other products.

Eric Baclet, vice president of marketing over global neuroscience brands, will succeed Ricks to lead Lilly China.

The company is reorganizing into five business units: cancer, diabetes, established markets, emerging markets, and the Elanco animal-health business. The reorganization includes about 5,500 job cuts, or about 14 percent of Eli Lilly's work force, by the end of 2011.

In afternoon trading, Lilly shares remained unchanged at $32.86.

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