Drug maker, Merck & Co; Inc. (NYSE: MRK) announced on Tuesday that it plans to cut 8,500 jobs as part of its bigger plan to streamline its research and development and improve its commercial focus. The Whitehouse Station, N.J; based Company expects to save nearly $2.5 billion in annual costs by the end of year 2015. By the end of 2014, the company anticipates to save $1 billion out of the total estimated savings. This is the second round of job cuts. The Company said earlier that it will cut 7,500 jobs.
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Major Movers on February 1; PMCS, MRK, CAVM
Shares of PMC-Sierra Inc. (NASDAQ: PMCS), a designer, developer and marketer of semiconductor solutions through a network of offices in North America, are seeing a huge rally in trading today after the company reported its fourth-quarter financial results.
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Merck & Co Reports Q3 Results (MRK)
Merck & Co Inc. (NYSE: MRK), a New Jersey-based global healthcare company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health and consumer care products, which it markets directly and through its joint ventures, today reported results for the third quarter ended September 30, 2012.
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Merck To Close Study On Its New Drug After Ensuring Effectiveness, Shares Climb (MRK)
Merck & Co. Inc (NYSE: MRK) decided to wrap up an advanced study of its osteoporosis drug, since the initial examination confirmed the effectiveness of the drug.