| Pfizer, Incorporated, is the largest pharmaceutical | | | | Norvasc, which treats blood pressure, Zyrtec, which |
| company in the world, and is known as the | | | | helps combat allergies, and Zoloft, for depression. |
| manufacturer of well-known drugs that include | | | | These drugs make up almost one third of revenue |
| Viagra, which limits and prevents erectile dysfunction; | | | | sales for Pfizer, and their loss would mean a drastic |
| and Lipitor, which aids in lowering the blood | | | | decrease in sales from that point on. Although Pfizer |
| cholesterol. Pfizer's Global Research and Development | | | | had sought to appeal to the courts regarding some |
| department is easily the largest research and | | | | of its drug patents, profits would be plummeting to |
| development facility as well, with funding going as | | | | almost 25 percent for 2005 alone regardless. |
| high as roughly $7.4 billion annually, and their growth | | | | Aside from the loss of its patents, Pfizer also had to |
| substantially peaked in the 1980s and 1990s due | | | | deal with the removal of some of its other popular |
| mainly to the increase in success of their drugs. | | | | drugs from drugstores, such as Celebrex and Bextra, |
| Despite al this however, Pfizer job cuts were | | | | mainly because these drugs have also been |
| announced in 2005 the company's attempts to cut | | | | discovered to have disastrous side effects that |
| back on expenses. | | | | include the increases their users' chances of suffering |
| Although it had been announced that most of the | | | | strokes and heart attacks. This has also resulted in a |
| Pfizer job cuts would be concentrated in the sales | | | | rapid decrease in sales as other users began to |
| and manufacturing positions, no specified amount of | | | | switch to over-the-counter pain medication such as |
| people to be fired had ever been mentioned. While | | | | the drug Advil. |
| Pfizer's chief executive Hank McKinnell mentions that | | | | After the Pfizer job cuts and the limiting of other |
| only a "few" jobs will be lost, and most notably in | | | | expenses, Pfizer hopes to save on as much as $4 |
| their sales division, several other economic analysts | | | | billion a year. They have officially stated that the |
| have already estimated that as many as 10,000 to | | | | poor local economy has nothing to do with these |
| 11,000 people working for the company could be | | | | setbacks, and that all Pfizer companies are adopting |
| relieved of their jobs. This is mainly in art because | | | | these streamlining processes all around the world. |
| many of the Pfizer executives were unwilling to | | | | Although these job losses would undeniably be a |
| disclose the exact amount, stating that there may be | | | | huge blow to the economy, it also goes without |
| unnecessary panic and fear among its employees. | | | | saying that many pharmacies and patients would also |
| They are also safeguarding against other | | | | be suffering indirectly from these effects. With the |
| opportunistic rival pharmaceutical companies, regarding | | | | decrease in research and development teams allotted |
| competitive intelligence. | | | | to finding more innovative drugs, there is a chance |
| One of the main reasons for the Pfizer job cuts was | | | | that many patients would not receive the best health |
| primarily because of the expiration of the patents of | | | | care that they are able to. |
| many of their bestselling drugs, including Lipitor, | | | | |