Blog.SasaSam - Keeping updated

News: Pfizer Cuts 10,000 Jobs

URL:
Cut 10,000 Jobs at Pfizer

10% of the workforce is to be "let-go".


What's the problem?

"The problem for Pfizer and its peers is not just that older drugs are going off patent
but that new ones are not making up the difference.
Last year, only 26 medicines or vaccines were approved
by the U.S. Food and Drug Administration, half as many as in 1996,
the year that Lipitor was approved.
And although Pfizer launched an innovative stop-smoking pill,
Chantix, and a cancer-fighter, Sutent, those medicines are not expected to make up
for the losses of big sellers like antidepressant Zoloft and hypertension pill Norvasc,
not to mention the $12-billion-a-year Lipitor."

Arrh, the new drugs in the pipeline are not making up for the "old" ones.

posted by SasaSam @ 6:43 PM