MSD plans $3bn cuts amid competition for Irish-manufactured cancer drug Keytruda 

MSD employs more than 3,000 people at eight locations in Ireland

MSD is slashing $3bn (€2.59bn) from its annual spending as it braces for off-brand competition to its Irish-manufactured cancer drug Keytruda, the best-selling medicine in the world.

MSD is slashing $3bn (€2.59bn) from its annual spending as it braces for off-brand competition to its Irish-manufactured cancer drug Keytruda, the best-selling medicine in the world.

The drugmaker will cut administrative, sales and research jobs, as well as reduce its real estate holdings around the world, the company said in a statement on Tuesday. The company expects the restructuring to be completed by the end of 2027, the year before Keytruda’s key patents expire and the drug faces US government price cuts.