Posts Tagged ‘obama faces economic challenge’

Pfizer has decided to buyout rival drug maker Wyeth in a 68 billion cash and stock deal. This would enhance Pfizer’s position as no.1 in the pharmaceutical industry. This may seem to have solidified Pfizer’s position in the industry but they too have not been able to escape global economic meltdown. They have decided to slash more 2007-10-18t111718z_01_nootr_rtridsp_2_business-pfizer-results-dcthan 8,000 jobs as cost cutting measures.
The newyork based company also has decided to reduce the number of manufacturing sites. No industry has escaped global economic meltdown and the pharmacy industry is no different. But the greed of some companies seems endless and Pfizer is no different. It is one of numerous company which slashes job as cost cutting measure but also go on acquiring other companies.


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