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Thursday, December 21, 2006

More Layoffs Seen For Big Pharma (Bush administration handouts of tax payer money not enough to satisfy Pfizer's greed)

In a client note released Thursday, Schott noted that Pfizer (nyse: PFE - news - people )Âs recent 20% U.S. sales force cut of about 2,000 reps was a step in the right direction, in his opinion, as the company looks to cut back on its overall cost structure. The layoffs added 5 cents per share per year to their earnings, according to Schott.

With these cuts expected to be completed by the end of 2006, Schott believed Pfizer has the further opportunity to slash headcount among its 20,000 international reps, based on his analysis of sector sales force efficiency.

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