Hello, everyone, and how are you today? We are doing just fine, thank you, despite the gloomy clouds hovering over the Pharmalot campus. Sunny spirts are in order because, as the Morning Mayor schooled us: Every brand new day should be unwrapped like a precious gift. Words to live by, yes? While you think it over, please join us for yet another delicious cup of stimulation. And of course, here are your tidbits. Have a wonderful day and do keep in touch …
Allergan (AGN) chief executive officer Brent Saunders told Mad Money there has been “a lot of misunderstanding” about the controversial deal to transfer Restasis patent rights to the St. Regis Mohawk tribe. “It wasn’t desperation, it was tenacity. … And I think people got confused that said because I believe in strong intellectual property, I don’t believe in making medicines affordable and accessible, and one has nothing to do with the other.”
The number of jobs cut by the pharmaceutical industry so far this year has exceeded 12,800, a 55 percent jump from the same period a year ago, according to Challenger, Gray & Christmas, the outplacement and executive coaching firm. The pace has picked up during the last two months when more than 7,200 job cuts were announced. Merck (MRK) , for instance, recently disclosed plans to axe about 1,800 sales reps.
About the Author Reprints
