Wyeth, Pfizer announce $68 billion megamerger

National report

- Pfizer and Wyeth announced a $68 billion megamerger, which will slash their combined 128,000 work force by 19,000 jobs, according to the

New York Times

.

Pfizer will cut it’s stock dividend in half, and is taking a $2.3 billion hit to settle a federal investigation over off-label promotion of Bextra, the Times reports.