Patent loss meant job cuts inevitable at Pfizer
The loss of 177 jobs at two of Pfizer's manufacturing plants in Cork last week was a bitter pill for its Irish employees to swallow.
The loss of 177 jobs at two of Pfizer's manufacturing plants in Cork last week was a bitter pill for its Irish employees to swallow. Yet it was a predictable move given the company's current cost-cutting campaign and the challenges it faces this year.
The world's largest pharmaceutical company is losing its patent protection on Lipitor, its $10 billion prescription medication and the world's bestselling cholesterol drug.
As part of its cost-saving drive, the New York-based company...
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