Pharmaceutical Executive-10-22-2008

Industry is cinching its belt, but news that Merck will shed 12 percent of its workforce - many senior and middle management positions - was a bombshell announcement.

New legislation gives US-based Web hosting companies the go-ahead to remove shady online pharmacies without a warrant. The new rule makes it harder to market counterfeit drugs, and for consumers to purchase medication without a prescription.

Novartis is the latest pharma company to move away from the traditional sales model of blanketing sales reps for one drug across the nation. The company is restructuring its force (and cutting jobs) to focus on a regional sales model.