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Pfizer is planning to make more job cuts then originally expected as it continues a cost-cutting programme following the acquisition last year of Wyeth.

After the aforementioned $68 million purchase, the New York-based giant announced plans to reduce its workforce by 15% or over 19,000 jobs. By the end of the third quarter this year, around 18,000 posts had gone.

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Pfizer is giving no details as yet but the news is not a great surprise. The drugs major is facing a major patent cliff when Lipitor (atorvastatin) loses protection in the USA in a year's time and generic competition is already hurting the cholesterol-lowering blockbuster. Third-quarter sales of the drug fell 11% to $2.53 billion

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