Merck has lifted the estimated savings from its cost-cutting programs by $1 billion as it outlined new details in a major overhaul of the company's operations. The struggling drug giant says it will concentrate its research and development efforts on nine key disease categories, including Alzheimer's, cardiovascular disease, oncology and diabetes. The company also says that it has five new drugs that are either in Phase III testing or will be in late-stage trials by the first quarter of 2006. Merck can now cut costs by $4.5 to $5 billion as it lays off workers and closes facilities.
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