Even the recent round of mergers and acquisitions instigated by large firms such as Pfizer and Merck, followed by the requisite cost-cutting and sackings, has failed to fix what ails the industry.

• 即使是最近一轮由辉瑞和默克等大公司挑起的并购，伴以必要的成本消减和人员解雇之后，仍然未能修复给业界带来的创伤。