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| A view of the Merck & Co. campus in Linden, New Jersey |
NEW YORK (Reuters) - The chief executive of Merck & Co on Tuesday defended his refusal to slash the drugmaker's $8 billion research budget and warned that global price constraints threaten the pharmaceutical industry's ability to innovate. The drug industry is embroiled in a debate over whether companies are spending too much on research given a poor track record in developing new drugs. Investors are asking whether that money should be spent elsewhere to produce better financial returns. While Merck held firm on spending, Pfizer Inc committed to cutting its budget by as much as $2 billion. ...read more..
source:http://yhoo.it/rrFRnp
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