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Last year $PG reduced the number of agencies it works with by nearly 40%, and cut agency and production spending by $300MM. $PG is aiming for an additional $200MM of agency-related savings in 2015. These are non-working savings that enable the company to invest in working media and sampling works.
Biodefense therapeutics firm $PIP announced an all-stock merger with biotech Altimmune. The respective boards of the two companies unanimously approved the merger.
$YHOO is reporting today after market close. Nobody cares about this stock.