Pfizer pharmaceuticals news

PFE announced a four-year cost-cutting plan that will reduce annual spending by $4 billion by 2008. The restructuring does not include R&D cuts; rather, R&D spending will grow about 4% to $8 billion in 2005 compared with $7.7 billion in 2004. PFE has 102 candidates in early development, 33 in mid-stage development, eight in advanced development, and another six in registration. In 2006, the operational and financial benefits of the cost-cutting would result in double-digit growth in adjusted earnings. ...