King Pharma to lay off 20 percent

It's not just Big Pharma that's restructuring. King Pharmaceuticals plans to lay off 20 percent of its workforce and embark on a cost-cutting regime. The prompt: Possible loss of patent coverage on its Altace remedy for heart failure and high blood pressure. A U.S. Court of Appeals recently ruled against the company, but King has asked the judges to reconsider.

- check out King's release

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