Pfizer to cut sales force by 20 percent
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Pfizer Inc.  said on Tuesday it  would cut its U.S. sales force by about 20 percent, or some  2,200 jobs as part of a comprehensive cost-cutting program.
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Pfizer Inc. PFE.N on Tuesday  reaffirmed it expects 2004 earnings to be more than 20 percent  above last year, but warned that results in 2005-2007 will be  hurt by patent expirations on over a half-dozen of its  best-selling medicines.
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Shares in Pfizer Inc fell 12 percent in  Europe on Monday after the world's biggest drugmaker scrapped  development of its most important experimental medicine.
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Global drugs giant Pfizer sees profits fall after a drop in worldwide sales of cholesterol drug Lipitor.
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Pfizer says it is to shed up to 400 jobs and sell off a factory as part of plans to "rationalise" its UK operations.
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Citing a difficult market for home builders, Pulte Homes Inc.  said on Tuesday it would cut 16 percent of its work force.
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Core Gulf producer Kuwait will meet its OPEC cut by lowering oil product sales by 190,000 barrels per day (bpd) during first-quarter refinery maintenance, a Kuwaiti oil official said on Wednesday.
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Switzerland's Novartis AG will slash 2.5  percent of its global workforce, aiming for annual savings of  $1.6 billion in 2010, becoming the latest major drugmaker to  undertake a deep restructuring.
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PfizerÂs stock fell almost 11 percent on Monday in a trading frenzy that shaved more than $21 billion off its market value.
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Pfizer Inc. said Saturday it has cut off all clinical trials and development for a cholesterol drug that was supposed to be the star of its pipeline because of an unexpected number of deaths and cardiovascular problems in patients who used it.
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Drugmaker Eli Lilly and Co. (LLY.N: Quote, Profile, Research) on Thursday said it will eliminate up to 575 US positions, representing 2 percent of its US work force, in order to streamline operations and reduce costs.
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Shares in Pfizer Inc fell 12 percent in Europe on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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NEW YORK - Pfizer Inc.  said on Thursday third-quarter earnings fell sharply, hurt by a $2.8 billion charge to end its involvement with its poorly-selling Exubera inhaled insulin drug.
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Some analysts are betting Pfizer Inc.  PFE.N won't have to withdraw its arthritis drug Celebrex but  they do expect sales to fall after a study of the drug in  cancer patients showed it increased the risk of heart attacks.
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Rivals lead to lower sales of the pharmaceutical's only marketed drug.
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Shares in Pfizer Inc, the world's biggest drugmaker, fell more than 10 percent in early trade in Europe on Monday, after news it had scrapped its most important experimental drug.
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Pfizer plans to immediately stop advertising Celebrex, its best-selling arthritis pain reliever, to consumers after a study linked it to an increased risk of heart attacks.