Pfizer: Job Cut Speculation 'Premature'
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Pfizer Inc. PFE.N, the world's  largest drug maker, said on Tuesday it was conducting a  comprehensive review of its operations, but said analyst  speculation it had decided to cut jobs was "premature."
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Stocks slipped on Wednesday as a report suggested that November job growth may have exceeded Wall Street's estimates, diminishing the chances of an interest-rate cut any time soon.
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Pfizer Inc.  on Wednesday reported lower-than-expected quarterly earnings on competition with generics, and said global sales of cholesterol fighter Lipitor fell 13 percent amid slipping demand for the company's flagship product.
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Pfizer (PFE:NYSE - news - research) was treading water Monday morning, hovering around its 52-week low amid reports that it plans to halt advertising of its embattled painkiller Celebrex.
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With sales of its top medical devices continuing to drop, Boston Scientific Corp. plans broad job cuts that could affect its Massachusetts employees, a spokesman said yesterday.
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With the sudden failure of torcetrapib, Pfizer Inc.'s most important experimental product, financial analysts predict shares of the world's largest drugmaker could fall from 5 to 25 percent on Monday and that Pfizer will need to buy other products to fill the void.
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The Nigerian government delays its lawsuit against drugs giant Pfizer over allegations of illegal drug test.
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Stocks inched lower on Friday,  pressured by a sharp drop in Pfizer Inc. PFE.N after the drug  maker said patients in a study showed an increased risk of  heart attacks after taking its popular Celebrex 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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Drug giant Merck, stung by its handling of the recall of the arthritis drug Vioxx, says it will cut about 51-hundred jobs by the end of the year.
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By Jewel Gopwani, Detroit Free Press  Feb. 1--More than a week after Pfizer Inc. said it would shut down its Ann Arbor research center, the firm's CEO encouraged workers to stay with the company.
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Pfizer (PFE) said Friday that it has received new information about the cardiovascular safety of its popular arthritis drug Celebrex, based on an analysis of a long-term cancer trial, but it has no plans to withdraw the drug.
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GlaxoSmithKline warns it will cut jobs and close some factories as part of a cost-cutting plan.
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The company said it would cut 3,000 jobs, or 4.6 percent of its global work force, to ensure future profit growth as generic competition hurts sales.
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Pfizer is expected to see a sharp fall in sales of one of its best-selling drugs after a warning by US regulators.
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Shares of Pfizer Inc. PFE.N closed  down more than 2 percent on Monday after an analyst lowered her  investment rating on the world's largest pharmaceutical  company's stock.
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By Paul B. Johnson, High Point Enterprise, N.C.  Jun. 2--TRIAD -- Critics of the record Dell Inc. incentives package aren't quite ready to say "we told you so" after the computer giant announced major job cutbacks this week, but they're close to making that case.