New Jersey-based pharmaceutical company Merck plans to lay off 8,500 workers as the company faces stiffer competition from generic drug makers. That's on top of the 7,500 job cuts announced earlier.
Merck announced the latest layoffs yesterday. In total, the company is cutting about 20 percent of its work force.
Ed Silverman writes about the pharmaceutical industry for Pharmalot. He spoke with WNYC's Soterios Johnson about the announcement.