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Citing a need to shift resources to different research and development projects, Merck said it will eliminate 500 U.S. jobs by Jan. 3, according to EndPoints News.

Johnson & Johnson and its subsidiary Ethicon will pay nearly $117 million to settle claims that they misrepresented the risks of transvaginal surgical mesh devices, according to The Wall Street Journal.

Johnson & Johnson's third quarter earnings beat Wall Street's expectations, despite the mounting losses coming from thousands of lawsuits, according to CNBC.

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