Merck Plans 13K Job Cuts
The second largest drug manufacturer in the United States, Merck & Co.(NYSE:MRK) plans to cut an additional 12000 to 13000 jobs by the year 2015 in an effort to save as much as $...
Category: Health
Nestle Acquires Prometheus Labs
Nestle SA, the world’s largest food company has agreed to acquire Prometheus Laboratories Inc., the manufacturer of treatments for gastrointestinal illnesses and cancer. Nestle has not mentioned the amount that it will pay to...
Generic Drugs Replace Brands
Over the next five years the annual spending on drugs by patients in United States is projected to fall by fifty percent as patients are going for the generic versions of the medicines which...
McDonalds Sued For Happy Meal
McDonald’s Corporation (NYSE:MCD) has been under tremendous pressure from both parents and the United States government, to change their menus and the way they market their products. The First Lady has been actively encouraging...
Glaxo Closer To Ending Denture Cream Suits
GlaxoSmithKline Plc (NYSE:GSK) is said to have paid around $120 million in order to resolve the claims made that some of their Poligrip products have caused neurological disorders as the denture cream contains zinc...
Allergan Loses $212 million Botox Side Effect Lawsuit
A 67 year old man in Virginia has won a lawsuit against Botox giant, Allergan Inc. (NYSE:AGN) over its Botox injections for treatment of tremors and cramps in his hand, leading to permanent brain...
Cephalon Being Acquired By Valeant Pharma
United States based Cephalon Inc. (NASDAQ:CEPH) has been offered a $5.7 billion hostile bid offer by Canadian based Valeant Pharmaceuticals International Inc. (NYSE:VRX) The Canadian based drug maker who manufactures dermatology and neurology based...
US Stops Japanese Food Import
Due to the devastating earthquake and tsunami in the Sendai region of Japan, several companies have been affected. Earlier it was reported that many auto part companies along with auto manufacturing plants have had...
Abbott Making a Major Recall
Abbott Laboratories (NYSE:ABT) is recalling glucose test strips from the market because of inaccurate readings. The glucose strips are used to detect the level of glucose in the blood for patients with diabetes. More...
Drug Storages Abundant
The FDA released the list of medicines which are in demand because of companies running short in manufacturing. Of these shortages, the most alarming are the shortages of cancer drugs that are causing many...