Global drug behemoth Pfizer is to sell off 100 products and cut 800 jobs worldwide as part of a major restructuring. The company will divest a large number of compounds to rivals in a bid to turn defunct programs into quick cash. Elsewhere, Pfizer is to cut 5% to 8% of its global research staff by the end of this year. The lay-offs will include 240 jobs at the firm's plant in Kent, UK. The world's biggest drugmaker last year reported it was to drastically reduce the product areas in which it was operating (Marketletter October 6, 2008).
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