Pfizer to shutter six research sites
Pfizer Inc., the world’s biggest drugmaker, plans to shutter six research centers, following its acquisition of Wyeth.
Pfizer will focus its research at five main sites and nine specialized units, down from 20 current locations, the New York-based drugmaker said Monday in a statement. Pfizer’s smaller centers will study specialized areas such as stem cells and monoclonal antibodies.
The move will reduce square footage by 35 percent at Pfizer, which completed its $68 billion acquisition of Wyeth last month. Pfizer spokesman Ray Kerins declined to comment on how many research jobs will be eliminated as part of the restructuring.
Pfizer plans to cut 15 percent of the combined company’s overall work force, or 19,000 positions.
“By focusing our R&D operations in these centers, we are building the world’s premier biopharmaceutical R&D enterprise,” said Mikael Dolsten, president of Pfizer’s biotherapeutics research and development, in the statement. “This new structure puts Pfizer in the best position to conduct cutting-edge research within and beyond our own laboratories and to deliver a portfolio of high-impact medicines to patients.”
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