Pfizer's Analyst Day: And Now, For Its Next Trick
Executive Summary
Pfizer was vague in describing to analysts just how it would reduce costs by $4 billion per year by 2008. The FDA's announcement that it had asked Pfizer to remove the Cox-2 inhibitor Bextra from the market just days later complicates matters for the pharmaceutical giant. In any case, those hoping for a significant headcount reduction among Pfizer sales reps were surely disappointed.
You may also be interested in...
Big Pharma's Year of Big Layoffs
It has been quite a year for pharmaceutical restructuring. But where are the cuts coming from? Here's a snapshot of the 40,000 or so layoffs from the industry's big players.
Big Pharma's Year of Big Layoffs
It has been quite a year for pharmaceutical restructuring. But where are the cuts coming from? Here's a snapshot of the 40,000 or so layoffs from the industry's big players.
Best Laid Plans: Pfizer's Torcetrapib Tanks
Pfizer's decision to discontinue the development of it's Phase III high-density lipoprotein-boosting torcetrapib in early December leaves the Big Pharma with little choice but to accelerate its restructuring plans and start spending some of its estimated $34 billion cash reserves to bolster its pipeline.