Well, big pharma doesn't appear to be the safe haven for investors or employees these days. The Industrial Info Resources' Pharmaceutical Tracker has revealed that there are at least 26 plants poised for shutdown. This is in addition to those J&J, Pfizer and Schering-Plough and other layoffs we keep hearing about, and employees in pharmaceutical advertising and marketing might take the biggest hit.
Why the slump? The combination of a down economy coupled with patent expirations, negative press about popular medications, fewer prescriptions being filled and some FDA difficulties might be to blame. Continued rumors about layoffs and plant closures are unlikely to help much, either.