Firm: US drug sales will fall 17 percent
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Pharmaceutical sales in the U.S. will drop to a third of global sales in 2008, from a 50 percent share two years ago, a report released Thursday says.
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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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Pharmaceutical wholesaler McKesson  Corp  reported on Thursday that its quarterly profit  fell 17 percent as results were hit by charges and lower profit  margins on generic drugs.
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Older Americans will have to pay about 17 percent more next year for their government-run health insurance, US officials announced on Friday.
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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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The company cited lower sales of some of its most important health care products, including stents and an anemia drug whose sales were hurt by safety questions.
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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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Pfizer Inc., the world's largest drug maker, will slash 2,200 US sales jobs as chief executive Jeffrey Kindler reduces expenses to compensate for revenue lost to cheaper generic competition.
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Shares of large U.S. and European drug  makers fell on Thursday after a prominent cardiologist  questioned the safety of new arthritis drugs and the  performance of U.S. regulators in monitoring drug safety.
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Dr. Reddy sees a dip in revenue from the loss of authorized generics.
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Depressed sales at Federated Department Store Inc. stores in Florida will cause third-quarter results to come in lower than expected, the company announced today.
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CHICAGO (CBS.MW) -- Shares of Rite Aid were hurting pretty good early Tuesday, falling about 5 percent after the drugstore chain warned that weak sales trends could bring its fiscal 2005 numbers in well below previous hopes.
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The pace of existing home sales in the United States fell in April to a 5.99 million-unit annual rate while inventories swelled, the National Association of Realtors said in a report on Friday that showed more weakness than analysts had expected.
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Fall in teenage consumption raises doubts over plan to reclassify drug.
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The number of children and teenagers taking antidepressants has fallen more than 20 percent this year after U.S. warnings the medicines may increase suicidal tendencies among youth, pharmacy benefits manager Medco Health Solutions Inc. said on Tuesday.
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Shares of large US and European drug makers fell on Thursday after a prominent cardiologist questioned the safety of new arthritis drugs and the performance of US regulators in monitoring drug safety.
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Cardinal Health Inc., the second-largest distributor of pharmaceuticals and other medical supplies in the United States, reported Thursday that first-quarter earnings fell 25 percent because of declines in drug distribution due to drug maker sales