Pharma Roundup: Pfizer, Wyeth, Amgen, Bristol, and More

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BNET Pharma provides daily industry trends and news coverage with insights for managers and executives about major manufacturers of pharmaceuticals and medicine. In addition to detailed drug company profiles, we bring you industry analysis on new partnerships, drug patents and products, cost management, investments, pharmaceutical related lawsuits, and a host of other important business issues.

Pfizer and Wyeth: how many jobs are actually being cut? — The Health Blog provides a run-down on the various figures that are being tossed around, from 18,000 to 26,000. Their estimate (with the math to back it up) is 19,425 from the combined company, with at least 8,190 coming from Pfizer alone. [Source: WSJ Health Blog]

In merger, desperate biotech companies lose a lifeline — M&A speculation has been running high recently, and many industry insiders expected Pfizer to poach a number of biotechs — biotechs with promising pipelines but no cash of their own. Now that Pfizer’s money is tied up in the Wyeth deal, biotechs have seen one of their potential white knights ride away. [Source: FierceBiotech]

Amgen and Bristol-Myers Squibb in relatively strong financial shape — It’s earnings call season, and both BMS and Amgen turned in year-over-year profit increases. [Source: FiercePharma]

Tags: Wyeth, Amgen Inc., Pfizer Inc., Biotechnology, John Maas

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Pfizer/Wyeth cuts to top 18,000

Medical Marketing and Media - 302 days 7 hours 22 minutes ago

Pfizer will cut between 18,000 and 19,000 jobs as it absorbs Wyeth, the company said. Pfizer plans to cut 10% of its pre-merger global workforce of 81,900 and another 15% of the combined headcount after it absorbs Wyeth later this year. Wyeth has around 47,000 employees worldwide. The initial round of cuts will be made over the next two years,...
Pfizer/Wyeth cuts could top 25,000

Medical Marketing and Media - 302 days 7 hours 22 minutes ago

Job cuts resulting from the merger of Pfizer and Wyeth could top 25,000 worldwide, if our math is right.Pfizer plans to cut 10% of its pre-merger global workforce of 81,900, including some previously announced eliminations, and another 15% of the combined headcount after it absorbs Wyeth later this year. Wyeth has around 47,000 employees...
2009 Shanghai Auto Show Preview: Chery Riich G6

Edmunds - 249 days 17 minutes ago

Date posted: 2009-03-20 11:51:00.0 SHANGHAI, China -- Chery Automobile unveiled two new high-end sub-brands in the run-up to the 2009 Shanghai Auto Show, part of the carmaker's plan to boost profitability and expand into overseas markets. One of China's larger automakers, Chery added the Riich and Rely brands to its portfolio. The Riich badge...
Merck, Schering to cut 16,000 post-merger

Fierce Pharma - 259 days 4 hours 22 minutes ago

Merck CEO Dick Clark spoke a figure, and around the world, people started worrying. That figure was 15 percent--the estimated job cuts attendant on his company's merger with Schering-Plough. With a combined workforce of 106,000, the two companies will together shed about 16,000 workers. That's not a huge surprise; Clark was quoting billions of...
For Pfizer, a Big Deal and a Test

New York Times - 301 days 7 hours 7 minutes ago

After announcing the $68 billion megamerger with Wyeth on Monday morning, Pfizer's chief executive, Jeffrey B. Kindler, did not have much time to celebrate. There was too much gloomy news to deal with. The companies' combined work force of 128,000 will shed 19,000 jobs. Pfizer will slash its stock dividend in half. And Pfizer is taking a