King Pharmaceuticals plans to lay off 20% of its workforce in an effort to speed up its strategic focus in neuroscience and hospital/acute care. The company estimates that the firings and other reductions in general and administrative expenses will save $75 million to $90 million in 2008 In September 2007, the U.S. Court of Appeals ruled against the continued validity of the patent covering King’s Altace product. The company has filed a petition with the court seeking reconsideration of the d...