BUSINESS BRIEFING / PHARMACEUTICALS
Pfizer Inc., the world’s biggest drug company, is laying off as many as 800 scientists this year in its latest effort to refocus disappointing research efforts and cut overhead ahead of an expected crash in revenue.
Pfizer plans to reduce its global research staff of about 10,000 people by 5% to 8% this year, the company said.
The move comes after the New York company announced in September that it was narrowing its research focus to six disease areas -- Alzheimer’s, cancer, schizophrenia, pain, inflammation and diabetes.
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