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Mon April 28, 2014
Kalamazoo may be indirectly affected by proposed merger of 2 giant drug companies
A proposed $100 billion merger of two giant drug companies may have an impact on thousands of people in Michigan.
Pfizer confirmed it’s talking with Britain's AstraZeneca about merging or combining their operations.
Pfizer employs about 2,300 people in Michigan, most of them in Kalamazoo County.
“Generally speaking, when Pfizer has made major mergers in the past, you’ve seen a dramatic amount of cost cutting … which meant job cuts,” says Damien Conover, a pharmaceutical industry analyst with Morningstar.
Conover expects if the two companies do merge, the ax may fall heavier on AstraZeneca than Pfizer employees.
He also expects the merger talks will continue for many months before any final decisions are made.