Cuts in drug manufacturing felt in U.K. industrial output

The cuts in the pharmaceutical industry in the U.K. are showing up as a negative in its industrial production. A measurable fall in manufacturing of "basic pharmaceutical products and preparations" contributed to a 0.7% decline in industrial output, the Office for National Statistics reports. Just last week, Pfizer ($PFE) confirmed that it was cutting jobs at manufacturing plants in Cork, Ireland, while CMO Patheon ($PTI) said it was trimming jobs at a facility in Swindon. The fall in output is leading some economists to encourage the company to try some stimulus spending. Most drugmakers would like to see the country improve its drug payment pricing. Story | More

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