It is already the world’s biggest pharmaceuticals company, but Pfizer is planning several key acquisitions in the Middle East that would allow it to further expand its hold in the global pharmaceutical industry. According to the company itself, the region is perfect for such a venture, and a senior executive in the company predicts “double-digit growth” in the years to come.
 
This move symbolizes the growing trend among drug companies to expand into emerging countries across the world as areas like North America and Europe begin to feature declining sales. Pfizer, specifically, plans to add $3 billion to its revenue by …read more

According to an Associated Press investigation, major pharmaceutical companies are contaminating the country’s drinking water – and the federal government knows, but does nothing. Sources say that they’ve “legally released at least 271 million pounds of pharmaceuticals into waterways that often provide drinking water,” and make of the ingredients dumped are classified as active, meaning that they cause reactions in the body, even in small levels.
Federal and industry officials both say that the amount of pharmaceutiful waste released can’t be known, as that data isn’t tracked, but analysts have found that the government has unintentionally kept records for a few …read more

On Monday it was revealed that Merck & Co.,  Inc. is set to acquire Schering-Plough Corporation for $41.1 billion. The deal will unite the makers of the cholesterol drugs Zetia and Vytorin.
Merck and Schering-Plough both cut a large number of jobs last fall and this deal would eliminate even more employees. It is said about 15% of their combined workforce would be eliminated with the deal. Most of the job cuts would happen outside of the U.S., however.
Just two weeks ago it was announced that two other large pharmaceutical companies, Pfizer and Wyeth, are also involved in a major deal. …read more