Japan to cut drug prices by 5.2 pct in 2008: source
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Japan will order drug prices to be cut by an average 5.2 percent in its latest review, a government source said on Tuesday, along with more steps to promote generic medicines in a double blow for makers of branded drugs.
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Pharmaceutical giant Merck & Co. announced on Thursday a reduction in the price of its HIV-AIDS drug, Efavirenz, for poor countries and those hit hard by the disease, including Thailand.
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Swiss drugmaker Novartis said Thursday it plans to cut 2,500 jobs in a restructuring programme aimed at generating yearly cost savings of 1.6 billion dollars (1.1 billion euros).
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Akzo Nobel  said on Monday it was selling its drugs unit Organon BioSciences to Schering-Plough  for 11 billion euros ($14.5 billion), dropping plans to float it in a public share offer.
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Japanese prices fall for a seventh straight month making a rate rise by the end of the year less likely.
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Cardinal Health, the drug wholesaler, said Monday it would cut 4,200 jobs, or 7 percent of its work force, and close 25 manufacturing and distribution locations as part of a plan to reduce costs.
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Merck &amp; Co. Inc. said Wednesday it expects the withdrawal of its Vioxx painkiller from the market to reduce full-year earnings by 50 cents to 55 cents a share.
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Japan set a target on Friday for cutting its suicide rate, one of the highest among industrial nations, by more than 20 percent over the next decade.
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The biggest Japanese automakers earned an average $2,400 more per vehicle sold in North America than U S -based rivals in 2005 by charging more and spending less on labor and health care, according to a study released yesterday.
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By Christopher Bowe and Andrew Jack in Whitehouse Station, New Jersey. Merck has quickened the pace of its restructuring with plans to cut a further 700 jobs, targeting about $3bn in savings by the end of 2008
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Russia is to allocate 2bn dollars to reduce prices of medicines within the framework of the implementation of the monetary benefits programme, [Russian] President Vladimir Putin said during a meeting with representatives of India&#39;s business circles in
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Japanese firms cut capital spending by 4.9 percent in April-June from a year earlier, data showed on Monday, confounding forecasts and adding to views that the Bank of Japan will hold off from raising rates this month.
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Japan will order drug prices to be cut by an average 5.2 percent in its latest review, a government source said on Tuesday, along with more steps to promote generic medicines in a double blow for branded makers.
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Sony Corp. 6758.T said on Tuesday it   would cut the price of its PlayStation 2 game console by about   19 percent to 16,000 yen ($138) in Japan as it gears up for the   eagerly awaited launch in November of the PlayStation 3.
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Japan indicated on Tuesday that it was nearing a decision on dropping its policy of testing all cattle for mad-cow disease, a move likely to move forward efforts to ease a nine-month-old ban on U.S. beef imports.
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A deal between the government and the pharmaceutical industry to cut branded drug prices by an overall 7% will save the NHS in Scotland Â£49m a year, the Scottish Executive said yesterday.
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TAMPA, Fla  - Wal-Mart Stores Inc. WMT.N, said   on Thursday it would cut the prices of nearly 300 generic drugs   to $4 per prescription starting in the retirement haven of   Tampa, Florida.