NEW YORK (AP) - Pfizer Inc. will likely slash staff and accelerate merger and licensing deals as the pressure on it to improve its financial performance intensified after the weekend's announcement that the company has ended development of a key drug.
Analysts differed on how much they believed Pfizer stock would fall when it opened on Monday. Barbara Ryan, an analyst at Deutsche Bank, said she believed the dividend yield of roughly 4 percent would keep shares from a free fall, but another analyst estimated the stock could plunge to $20 a share.
Pfizer Inc. will likely slash staff as the pressure on it to improve its financial performance intensified after the weekend's announcement that the company ended development of a key drug.
Just in case you needed any further evidence of Big Pharma's struggles, you got it last week when Pfizer announced plans to slash its U.S. sales force by 20%.
NEW YORK, Nov 30 (IPS) - Smallpox, polio and a host of other contagious, often fatal diseases have been stopped in their tracks by simple vaccines. More than two decades into the quest to untangle the secrets of the notoriously changeable HIV virus, is there still reason for hope?
By Mike Tolson, Houston Chronicle Nov. 28--In September 2004, when pharmaceutical giant Merck withdrew its best-selling painkiller Vioxx amid concern over potentially fatal side effects, many of the nation's plaintiff lawyers were wide-eyed with anticipation.