Drug behemoth, Pfizer, is planning to cut some $2 billion dollars in costs and overhaul the way it markets its drugs to doctors, as it faces the prospect of earnings being tempered this year by the expiry of patents covering several key drugs, as well as the safety concerns that could dog its arthritis and acute pain medicines, Celebrex (celecoxib) and Bextra (valdecoxib) [[20/01/05a]], [[20/12/04a]], [[25/01/05b]].
According to Reuters, the Wall Street Journal has published a report claiming that a business reorganisation could also see around $2 billion ploughed into more productive areas. People close to the situation, are said to have denied that the company is planning widespread job cuts, particularly amongst its salesforce.
Rumours on the planned reorganisation have been circulating for some days [[09/02/05c]], but the articles expect the full details will be unveiled at the company’s analyst meeting in April.
