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Eli Lilly chief researcher to retire

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

The drugmaker, which is based in Indianapolis, 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 Britain’s 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 21 cents to $35.19 in morning trading.

(This version CORRECTS age of Paul)

© 2009 Associated Press. Displayed by permission. All rights reserved.

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