Pfizer and Merck are starting to release the numbers for their initial cuts in R&D.
However, this article on FiercePharma states:
"These layoffs are just the beginning, of course. Both pharma companies are planning deep cuts to eradicate any overlaps with the companies that they are swallowing. And in another ominous note for Big Pharma's embattled R&D organizations, Merck CEO Dick Clark (photo) told an audience attending a Goldman Sachs event that the company has to look at "the number of research sites you need" post-merger."
The article goes on to state:
"None of this can come as any kind of a surprise at the companies, which have made it clear that the old days of monolithic R&D groups left in complete charge of new drug development are over. They also have to deliver big cuts to investors hungry to see some real synergies following the M&A splurge. The cuts, though, create new opportunities for biotech companies with bright pipeline prospects."
The question is who will oversee drug development then if not R&D?
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