UM: Pfizer

The New York Times reports that Pfizer is close to reaching a deal to buy the drugmaker Wyeth. The article quotes Erik Gordon, a professor at UM’s Ross School of Business: ”If Pfizer and Wyeth combine sales forces and other operations, they will have a sleeker cost structure. Most other large companies have cut just everything they can. The only way to come up with new cuts without endangering their future is to merge in a way that creates redundancies that give the companies new job-cutting opportunities.” [Source]