Merck & Co. is slashing $3 billion from its annual spending as it braces for off-brand competition to its cancer drug Keytruda, the best-selling medicine in the world.

Merck (NYSE:MRK) is cutting $3 billion from its annual expenses as it prepares for generic competition to its blockbuster cancer drug, Keytruda. The Rahway, New Jersey-based company announced Tuesday it will reduce administrative,

Merck will reduce its workforce by approximately 6,000 employees in “some areas of our global workforce,” the New Jersey drugmaker told Fierce Pharma. | Merck will reduce its workforce by approximately 6,