Pfizer, the world’s largest pharmaceutical manufacturer, will be forced to shed staff and speed up merger and licensing deals, analysts say, after the company ended trials of a key cholesterol drug.

The world’s largest pharmaceutical firm has axed clinical trials and development for a “flagship” cholesterol drug because of an unexpected number of deaths and cardiovascular problems.

PFIZER Inc’s 1,800 plus Irish workers are bracing themselves for possible job losses, when the company announces global cost cutting measures next week, which could result in the loss of 10,000 posts worldwide.