This is hugh...pharma is not an industry that is subject to the kind of labor pressures that other manufacturing segments have been.
This was a foreseen side-effect of the merger however Pharma is not as recession-proof as it used to be...
My nephew works for Abbott Labs near Chicago and says they’re having a real problem with counterfeiting. Especially in South America and Eastern Europe. The real hit comes when they have to investigate then fend off lawsuits based upon plaintiff use of counterfeit drugs or due to counterfeit labels.
You might think that, but these are Wyeth plants that they acquired and now they close down to sell. The reality is that Wyeth’s business model would have preserved the jobs. The takeover means they have the products, and now do calculations based on fixed govt. prices or rather the hands off pricing they got from Obambicare and you can see how they intend to make margins. Zero R&D and basic margin stretching- sign of a dying industry killed by it’s own greed. Great WSJ editorial on this and the connex to the Groton eminent domain case mentioned elsewhere in this thread. Oh yeah, Pfizer is also lobbying to make these drugs in... China, even as they whine and moan about no importation of drugs from foreign countries. It is all so disgusting.