At a conference yesterday, Merck's Merv Turner said big pharma's problems are due to researchers, reports Science Insider. "Seventy-five cents of every dollar we spend on R&D goes to fund failure," Turner said. He added that Merck is undergoing "painful" restructuring after acquiring Schering-Plough and that one area that will likely be pared down is late-stage drug development -- though "nothing's safe from cuts."

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