Drug industry confronting need to cut costs

12/5/2005 | Honolulu Advertiser, The

Merck's announcement of a major restructuring is seen as a reflection of the drug industry's need to cut costs in the face of increased competition from generics, pressures to lower prices, increased development and marketing costs, and fewer blockbuster drugs. Analysts say drugmakers have to find ways to hold down costs just as the automobile and airline industries have been doing.

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Honolulu Advertiser, The

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