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J&J Restructures

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Johnson & Johnson is restructuring and plans to reduce its global work force by 4% or approximately 4,820 jobs, in an effort to counter losses as a result of falling sales of its heart stents due to safety concerns and impending patent expirations for key drugs Risperdal and Topamax. The company expects to save $1.3 billion to $1.6 billion in 2008. The company predicts that restructuring charges will be between $550 million and $750 million in the second half of 2007. According to the c...

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