Pharma Roundup: Merck Eyes Generics, Pfizer Delays Layoffs, and More

(MoneyWatch)  Merck sees its future in generics -- Today, at its annual business briefing, Merck announced a new division which will develop generic versions of successful biotech drugs. Named Merck BioVentures, the project traces its lineage to GlycoFi, an acquisition from a few years ago. CEO Richard Clark told the press Merck intends to become a leader in the generics market. [Source: WSJ Health Blog]

Pfizer delays looming cuts -- The company has acknowledged that its recent reorganization will mean layoffs, but in a memo to employees, top brass have said they won't know who will go and who will stay until the new year. Originally, the announcements had been expected in December. [Source: Pharmalot]

EU legislators allow repackaging -- European lawmakers have been closely examining the process of drug packaging, but for the time being, it remains legal. Repackaging removes many of the safeguards against counterfeiting and makes it easier for impostors to market fake versions of drugs. [Source: Drug Channels]