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Painful job cuts and reduced expectations highlight the larger difficulties of the industry.

Reuters - Merck & Co said on Wednesday it will slash 12 percent of its workforce and tempered its long-range earnings outlook, and Wyeth announced a delay in its closely watched experimental Alzheimer's disease drug, highlighting some of the troubles facing the industry.

AFP - British pharmaceutical giant GlaxoSmithKline said Wednesday that third-quarter net profits sank heavily owing partly to increased competition from generic drugmakers.

The pharmaceutical company beat estimates, but competition and rising costs spell trouble, as the firm tries to squeeze extra revenue from fading blockbusters to prime its pipeline.

The Translational Genomics Research Institute has spun off its third company.

Middle Tennessee health care executive Barbara Knuutila has been named the chief operating officer of Maristone Senior Living, a luxury assisted living developer.

AP - Drugmakers Merck & Co., Wyeth and GlaxoSmithKline PLC all posted lower profits for the third quarter on Wednesday, partly due to the intensifying generic competition weighing on the entire pharmaceutical industry.

WEST PALM BEACH, FL (MARKET WIRE) HearUSA, Inc. (AMEX: EAR), the recognized leader in hearing care for the nation's top managed care providers through 200 company-owned hearing care centers and a network of over 1,900 affiliated providers, will hold a conference call on Monday, november 10, 2008 to discuss results for the third quarter ended September 27, 2008.

SAN FRANCISCO, CA (MARKET WIRE) Weidley Chiropractic, provider of chiropractic and wellness services, will host a Pink Ribbon fundraiser on Saturday, October 25, at its Marina/Cow Hollow office located at 2087 Union Street in San Francisco.

The pharmaceutical company reported a mostly flat third quarter, due in part to weak sales of its anti-depressant.