Pharma Roundup: Lilly's Zyprexa Settlement; Cuts at Pfizer, Roche; and More

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Lilly pays $1.4 billion to settle Zyprexa claims — Today’s big story is the exorbitant sum Lilly must pay for its sales reps’ off-label promotion of Zyprexa as an Alzheimer’s therapy — supposedly a record sum. The company will be officially monitored for 5 years. BNET’s Jim Edwards has the full story on the ruling’s impact on Lilly’s bottom line: 12 percent of revenue, among other things. [Source: In the Pipeline]

Pfizer management may terminate 2,400 sales reps — Bloomberg reports that the Biggest Pharma is considering the elimination of one third of its sales force. The company neither confirmed nor denied the rumor. [Source: WSJ Health Blog]

Roche cuts 780 — The Wall Street Journal reports that Roche will excise 780 production positions within the next two to three years. [Source: PharmaGossip]

Novartis CEO’s take on industry — In comments at the JPMorgan Healthcare Conference, outgoing Novartis pharma CEO Thomas Ebeling gave his barometer reading of the pharma industry. Among other points, he discussed the unwillingness of Big Pharma to face bad news; the “holding company” business model he believes will soon dominate pharma; and the belief that talented R&D execs are more valuable than most companies realize. [Source: In Vivo]

Tags: Roche Holding AG, Pfizer Inc., Settlement, Pharmaceutical Company, John Maas

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Pfizer considers firing 2,400 sales reps

Medical Marketing and Media - 295 days 22 hours 44 minutes ago

Pfizer may reduce its sales force by one-third, or 2,400 reps, Bloomberg reported, citing people familiar with the situation.The layoffs would anticipate upcoming patent expiries. Lipitor, the company's blockbuster cholesterol drug, will face generic competition as early as 2011.According to Bloomberg, Barbara Ryan, a Deutsche Bank analyst,...
The Incredible Shrinking Pfizer?

Forbes - 295 days 14 hours 47 minutes ago

Just days after Pfizer announced it was cutting 800 people from its research department, rumors have surfaced that the pharmaceutical company might dismiss another 2,400 from its sales team. The New York City-based pharmaceutical company wouldn't confirm or deny reports that it will be trimming its sales force by almost a third, but several...
Pfizer plans to cut 2,400 sales jobs

Pharmaceutical Business Review - 292 days 21 hours 38 minutes ago

It is believed that a majority of the layoffs will include sales representatives and middle managers who comprise one-third of Pfizer's marketing workforce. Pfizer may also extend its cost-cutting efforts to other major areas like advertising and manufacturing. The expiry of the Lipitor patent in 2011 and the predicted rise in generic...
Pfizer mulls massive sales-rep cuts

Fierce Pharma - 295 days 19 hours 44 minutes ago

We've been hearing rumblings of a big cut in Pfizer's sales force, and now those rumors are hitting the news: Company brass is considering lopping off one-third of its reps and district managers. That's a grand total of 2,400 potential cuts, the Wall Street Journal Health Blog reports, quoting a Bloomberg News story. Pfizer wouldn't confirm the...
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Daniel Haszard

01/17/09 | Report as spam

RE: Pharma Roundup: Lilly's Zyprexa Settlement; Cuts at Pfizer, Roche; and More

Eli Lilly: Indy-based pharmaceutical company pleads guilty to promoting Zyprexa for unapproved uses; is slapped with $1.4 billion criminal fine, the largest ever placed on a U.S. company.

Zyprexa Claims being Stonewalled.
Where is the money going as many victim claimants haven't been paid yet?

Something fishy going on here?
Daniel Haszard www.zyprexa-victims.com