GlaxoSmithKline has reported lower fourth-quarter earnings reflecting hefty legal expenses and said it is stepping up its cost-cutting program.
Europe's largest drug maker said it is now aiming at savings of £1.7 billion by 2011, up from a previous forecast of £700 million.
WSJ
The majority of the job cuts will be outside the UK with half likely to be in manufacturing and the rest split between commercial, and research and development (R&D).
Telegraph
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