INDIANAPOLIS -- More than 330 Eli Lilly and Co. employees have accepted buyout offers from the drugmaker, and their jobs will end June 30.

The Indianapolis-based company announced last month that it was offering the "voluntary exit program" to about 2,000 central Indiana employees involved in the production of ingredients for insulin products Humalog and Humulin and the osteoporosis medication Forteo.

The employees had until Wednesday to accept the offer, which the company said was made because it thought it had too much production capacity -- and too many workers -- for the type of demand it believed the products would have.

The company said 335 people accepted. It said it would have let up to 500 workers accept.

A company spokesman said Lilly will reassign about 150 workers to different jobs.