Facing patent expiration for its blockbuster Keytruda, Merck aims to streamline operations with significant job cuts and continued R&D investments.

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 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,