THE PHARMACEUTICAL INDUSTRY - A NEW PERSPECTIVE
A recession-resistant industry such as pharmaceuticals is undergoing a violent contraction cycle because of lack of new approved products, expiration of patents on existing blockbuster drugs, and the flood of generics. Ed Silverman, a noted journalist with the Star-Ledger has been tracking this industry on his blog, PHARMALOT. As of Saturday, April 5, 2008, the number of jobs these companies are expected to eliminate are:
1. Pfizer - 10,000
2. AstraZeneca - 7,600
3. Bayer - 6,100
4. Schering-Plough - 5,500
5. Wyeth - 5,000
6. Johnson & Johnson - 5,000
7. Bristol-Myers Squibb - 4,300
8. Novartis - 3,750
9. Amgen - 2,600
10. Glaxo - 1,650
11. King - 520
12. Sanofi-Aventis - 380
13. Sepracor - 300
14. Ligand Pharma - 267
15. PDL BioPharma - 250
16. West Pharma - 250
17. Abbott - 200
18. Bradley Pharma - 196
19. Alkermes - 150
20. Encysive Pharma - 150
21. Neurocrine Bio - 130
22, Nektar Thera - 110
23. Reliant Pharma -109
We will keep you posted on this blog as the numbers change significantly.
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