| AstraZeneca follows Pfizer in shedding thousands of jobs
LONDON: In the latest sign of upheaval in the pharmaceutical industry, AstraZeneca said Thursday that it planned to cut about 3,000 jobs, or 4.6 percent of its global work force, to ensure profit growth as generic competition increases. The move follows plans by Pfizer, the world's biggest drug maker, to reduce its staff numbers by 10 percent and reflects tough times for manufacturers facing increased generic competition, weak pipelines and pressure on prices. AstraZeneca said the job cuts over three years would focus on its factories, helping it maintain financial performance in an increasingly competitive environment. At the same time, AstraZeneca reported that it had met forecasts for 2006 with a 28 percent jump in pretax profit, to $8.54 billion.
Merck, Wyeth Shares Fall After Reports
Shares of drug makers Wyeth and Merck & Co. took a hit Tuesday after disappointing earnings reports, but for different reasons: Wyeth missed analysts' expectations by a wide margin, while Merck's profit plunged due to ongoing legal and restructuring costs. Merck surprised some analysts by boosting its reserve for litigation over withdrawn painkiller Vioxx for a second straight quarter. That charge and others cut Merck's fourth-quarter profit by 58 percent despite higher revenues. Shares fell 60 cents, or 1.6 percent, to $44.91 with nearly double normal trading volume. Wyeth shares fell $1.24, or 2.5 percent, to $49.36, also on the New York Stock Exchange, as the Madison, N.J.-based company boosted quarterly profit by 17 percent but came in a nickel below analysts' consensus of 71 cents in earnings per share.
Tri-State Neighbor
Q: I saw part of a news story on TV that said people who take Nexium (and similar drugs) for a year or more are at greater risk of bone-density loss and have more bone fractures.I have been taking Nexium for heartburn for almost a year and a half. I have had knee replacement and a total hip replacement. I did not get details of who did the study and how. I want to ask my gastroenterologist if I can stop taking Nexium, but I would like to be able to give him some details. Can you supply them? .
Eating 'round the clock
Is your bowl of Cheerios or double espresso the best way to start your day? Is your evening snack of chips and salsa disrupting your chance at a good night's sleep? Broken down by specific times, here's a guide on how to eat to keep your mind alert, mood positive and body fit as you make your way through the day. 7 a.m. Many health professionals believe that breakfast is the most important meal -- it establishes our eating pattern for the rest of the day. On average, people who skip breakfast are more prone to mood swings, score lower on cognitive and alertness tests, and report feeling hungry throughout the day. While you sleep, the body uses glucose so your organs and cells can maintain their normal function. By the time you get up in the morning, your glucose needs restocking.
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