Pfizer Inc., the New York health-care major, will cut about a fifth of its 3,000-member sales force for primary-care pharmaceuticals as part of a continuing cost-cutting effort, a person familiar with the matter told Bloomberg News
The news service reported late on Tuesday that the company has been cutting costs as it repositions after losing its patent on its Lipitor cholesterol drug
The chief executive, Ian Read, wants to bring new drugs to market as Pfizer integrates a number of acquisitions from recent years, Bloomberg reported
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NEW YORK (MarketWatch) -- In what may give the stocks of pharmaceutical companies Pfizer Inc. PFE -0.99% and Bristol-Myers Squibb Co. BMY -0.75% a boost next week, the U.S. Food and Drug Administration late Friday approved the anticlotting drug Eliquis, an oral tablet used to lower the risk of stroke and dangerous blood clots in patients with abnormal heart rhythm that's not caused by a heart-valve problem. The FDA said the safety and efficacy of the drug was studied in a clinical trial of more than 18,000 patients that compared it with the anticlotting drug Warfarin. It said patients taking Eliquis had fewer strokes than those who took Warfarin. Both Bristol-Myers and Pfizer, which had struck a licensing deal for the drug if it was approved, have been seeking to replace top-selling drugs that have lost U.S. patent protection, the Wall Street Journal reported.
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