Pfizer to buy Wyeth for $68B; cut 8,000 jobs (AP)

Advil and Robitussin products from Wyeth are shown Monday, Jan. 26, 2009 in New York. Pharmaceutical giant Pfizer Inc. is buying rival drugmaker Wyeth in a $68 billion cash-and-stock deal that could reshape the drug development industry. (AP Photo/Mark Lennihan)AP – Pfizer Inc., the world’s largest drugmaker, said Monday it is buying rival Wyeth for $68 billion in a deal that will quickly boost Pfizer’s revenue and diversification and — if it works as advertised — help the company become more nimble.

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