Pfizer to Cut Its U.S. Sales Force by 20%
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The move may mark the beginning of a bigger retrenchment by Pfizer and the rest of the drug industry.
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Pfizer, the US drug giant, has told UK wholesalers that it will only supply enough prescription medicines to meet domestic demand in what is believed to be an attempt
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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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NEW YORK  - US drug giant Pfizer said it will stop advertising painkiller Celebrex after a trial indicated a heart-attack risk at high doses, but vowed to carry on sales.
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Pfizer Inc. is on schedule to complete the filing of 20 new drug applications by the end of 2006 as it confronts patent expirations affecting $14 billion in sales, CEO Hank McKinnell said Tuesday.
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Shares in Pfizer Inc  fell around 14 percent in European and pre-opening U.S. trade on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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Pfizer Inc. said it would immediately stop advertising arthritis drug Celebrex to consumers after a study showed that high doses were associated with an increased risk of heart attacks, according to a published report.
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US drugs firm Pfizer plans to cut 20% of its US sales force, about 2,200 jobs, to cut costs and offset the loss of patents.
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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 and becoming the latest major drugmaker to undertake a severe restructuring.
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Pfizer Inc. said Wednesday that its fourth-quarter profit fell 70 percent from results a year ago that included gains on the sale of its consumer health business.
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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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Pfizer Inc., the world&#39;s biggest drugmaker, said it will stop advertising its Celebrex painkiller to consumers after a study showed the drug more than doubled the risk of heart attacks when given in high doses.
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Some analysts are betting Pfizer Inc.  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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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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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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Colgate-Palmolive Co. , the consumer products giant behind brands like Ajax detergent and Irish Spring soap, plans to cut its worldwide workforce by about 12 percent, or about 4,400 jobs, and close one-third of its factories as part of a four-year plan aimed at boosting its sales and profits. Its stock climbed nearly 8 percent.
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GlaxoSmithKline said it would cut jobs as part of a cost-savings plan after a sharp drop in sales of its diabetes drug and generic competition led to a 5.8 percent drop in profits.