The world's largest drug maker -- Pfizer Inc. -- announced Monday it will cut 10,000 jobs and close at least five facilities due to fierce competition from generic drug makers. The goal, says Pfizer spokespeople, is to whittle away annual costs by $2 billion by the end of the year -- to combat the prediction that the company will lose 41 percent of its sales to generic drugs between 2010 and 2012.

Pfizer's other obstacles include expiring drug patents -- costing Pfizer about $14 billion in revenues between 2005 and 2007 -- as well as demands for lower prices by insurers and large purchasers, and repeated requests for evidence of products' worth.

The 10,000 layoffs amount to 10 percent of the company's global workforce and will take jobs from 2,200 United States employees. The company will cut 20 percent of its European sales force, will close three research sites in Michigan and two manufacturing plants in New York and Nebraska, and is considering selling a manufacturing site in Germany and closing two research sites in Japan and France. In the midst of all of this, the company will focus its efforts on transforming the way they do business.

"I believe we must transform the way we've done business in the past in order to be more successful in the future," said Jeffrey Kindler, CEO and chairman of Pfizer. " Incremental evolution is not enough. Fundamental change is imperative -- and it must happen now."

Pfizer's Monday announcement is the second declaration of budget cuts. A previous announcement has the company -- the maker of cancer drugs Aromasin, Ellence, Camptosar, and Sutent -- slashing costs by $4 billion a year until 2008.

I feel like I'm spreading a little hope when I wear my Brighton breast cancer bracelet. It catches others' attention and allows me to explain what all the dangling charms represent. That's hopeful. The dollars I spent on the bracelet help fund breast cancer research. That's hopeful. And the bracelet inspires me personally. It reminds me of my journey, of my path ahead. That's hopeful.

So this hopeful piece of jewelry turns out to be a perfect accessory. And so does the Color of Hope ovarian cancer bracelet -- a new, exclusive, charming piece created as just one of many items in a fundraising campaign for The Ovarian Cancer Research Fund. Presented by L'Oreal Paris, the bracelet features an "O" toggle clasp -- a symbol of love, endurance, life, and "O"varian cancer.

The Color of Hope bracelet, available in sterling silver with cubic zirconia or 14K white gold with diamonds, is available online for a limited time.

Other L'Oreal Paris fundraising products -- sporting the ovarian cancer color teal -- include make-up items for the eyes, face, and lips, a body lotion, and a teal RAZR phone program.

Because You're Worth It has been the L'Oreal Paris slogan for more than 30 years. It represents a celebration of women and was created as part of a mission to give back to women and to empower them as they make educated choices about their well-being. And so in the spirit of well-being, the company strives to help women fully understand a disease that strikes about 20,000 women each year in United States -- and kills nearly 15,000 of them.

L'Oreal Paris honors women and the pursuit of their health through The Color of Hope initiative. Because they're worth it.

It's a question that could face any one of us at any time -- the question over whether to pay the high cost of cancer treatment, when it could send us into debt, or to discontinue treatment in order to save money for the family members who will survive us. Dying of lung cancer, Carolyn Hobbs was confronted with this exact question when considering a new biotechnology drug -- Erbitux -- that she learned cost $1,800. The drug may have extended her life but she determined it wasn't worth it -- and she refused the treatment.

During the last decade, expensive new treatments -- some upwards of $50,000 -- have given some patients their first real fighting chance against disease. The problem with these treatments, however, is that most patients will only survive an extra few months. A lucky few may survive for years. For some, maybe the small fortune these few months or years cost is worth it. For others, squandering their life savings on an extended death sentence is not worth it.

For me -- right now -- I believe I would do anything possible to ensure a longer life. And according to one poll, nearly one-third of Americans faced with death would also do anything possible to survive just a bit longer. This percentage is up from one-fifth in 1990. So I have some company in my corner. But I have not walked in the shoes that require this type of decision. I can only speculate about how I might approach this life-and-death decision. And hopefully, I will never have to make it.

I ran on my treadmill today while listening to a song by the band Green Day. I have always liked the song -- Good Riddance (Time Of Your Life) -- but I like it more at this moment in my life than ever before because it speaks about looking back on the past in light of unexpected journeys -- and because my unexpected journey with breast cancer makes me look at everything differently. And when I look back at my life one day, I want to say that I had the time of my life. And that's why I like this song. And that's why I share it here today. Because I hope that in the end, we all can look back with the crystal clear knowledge that we had the time of our lives.

Another turning point, a fork stuck in the road
Time grabs you by the wrist, directs you where to go
So make the best of this test, and don't ask why
It's not a question, but a lesson learned in time

It's something unpredictable, but in the end it's right.
I hope you had the time of your life.

So take the photographs, and still frames in your mind
Hang it on a shelf in good health and good time
Tattoos of memories and dead skin on trial
For what it's worth it was worth all the while

It's something unpredictable, but in the end it's right.
I hope you had the time of your life.

It's something unpredictable, but in the end it's right.
I hope you had the time of your life.

It's something unpredictable, but in the end it's right.
I hope you had the time of your life.

It may be possible to learn happiness -- like we might learn to cook or learn to dance -- by merely taking a class. Some refute this idea and believe you can't actually pursue happiness. You either have it or you don't. But some psychologists are embracing a whole new approach to psychology -- they call it positive psychology -- and they say it focuses on training the mind to focus on the past as very positive. It's completely different from traditional psychology where time is spent trying to determine why someone is so horribly sad. This movement, invented by University of Pennsylvania psychologist Martin Seligman in 1998 when he was president of the American Psychological Association, provides a scientific validated set of exercises -- known as interventions -- that lead happiness seekers to their ultimate destination.

Paul McCartney lost both his mother Mary and his first wife Linda to breast cancer. Heather Mills McCartney, his current wife, is an outspoken advocate for cancer prevention, campaigning for the reduction of dairy products that can lead to greater risk for some cancers -- like ovarian cancer.

I have admired the efforts both have made for cancer prevention. Today, it was announced that the two have separated and will be getting a divorce. Of course speculation immediately turned to financial matters, with tongues wagging about how much Paul is worth and how much Heather stands to receive, considering there is no prenuptial agreement.

The couple issued a joint statement insisting their split was friendly -- but said that intrusions by the media made it difficult to sustain their relationship. Well! This turn of event isn't going to dim the lights on the media extravaganza that has surrounded them. The end of a marriage is difficult, and I am just sad to see that two people who have spent time and money working to improve the lives and health of others will be suffering personal pain on a world stage. You can read personal messages directly from Paul here.

In Medical News Today, is the feature one percent reduction in cancer mortality would be worth nearly $500 billion dollars. With the ever-increasing costs of the latest in cancer drug treatments -- and what a life is worth in deciding whether or not to allow access to  drugs for cancer patients needing them -- this is an interesting and valid perspective in calculating costs of disease. According to a new study by economists Kevin Murphy and Robert Topel of the University of Chicago Graduate School of Business, a one percent reduction in mortality from cancer would be worth nearly $500 billion in social value of improved health and longevity. These estimates in dollars are based on the enjoyment of consumption and time during additional years of life, rather than how much a person earns.

"Since the benefits of cancer research are large, substantially greater research expenditures would be worthwhile," Murphy and Topel wrote. "A war on cancer that would spend an additional $100 billion on research and treatment may be worthwhile even if it had a one-in-five chance of reducing mortality by just one percent."

According to the researchers, from 1970 to 2000, gains in life expectancy added about $3.2 trillion per year to national wealth. While the economists are advocating in favor of additional research dollars, I believe the information from the study applies equally well when arguing if it is economically feasible to treat every cancer patient with drugs that will extend life. So for those who keep their focus on the pragmatic bottom line, and argue we simply cannot afford to treat everyone with expensive life-extending drugs, this is compelling evidence that in the long-run, you are losing money by not spending money now.