Drugmakers Are Discovering The High Cost Of Cutting Costs

When Dr. Leon E. Rosenberg was contemplating his move from dean of the Yale School of Medicine to head of research and development at Bristol-Myers Squibb three years ago, the pharmaceutical industry looked like research nirvana. "Research and development funding was increasing at double digits," he recalls. There were 4,000 scientists and technicians at the company's lavish research institute in Princeton, N.J., when Rosenberg came on board--and the plan was for that number to soon top 5,000.

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