Merck Cutting Drug Research

http://www.marketwatch.com/story/merck-cutting-drug-research-jobs-at-3-sites-2016-07-12

"The new changes are the latest at Merck since Roger Perlmutter took over as R&D chief in 2013 with a mandate to improve the once-storied division. That year, Merck embarked on a plan to reduce its total work force by about 20%, including cuts among R&D scientists, as the company narrowed its focus to certain treatment areas, such as cancer immunotherapy.
Dr. Perlmutter also boosted Merck's scouting of external drug R&D projects that it could acquire or license."