11.11.2009 by Cgutsell

Pfizer are the largest research-based pharmaceutical company in the world. Employing over 4,000 staff in the UK, they are a key player in the pharmaceutical job market.

Following their recent £40bn acquisition of Wyeth, it has been announced that Pfizer will close six of its twenty research and development sites and cut 15% research jobs at their UK and US branches.

The closures have come about as a result of Pfizer’s vast reorganization after acquiring the leading pharmaceutical and healthcare company, Wyeth.  The aim of this acquisition was to improve research productivity, whilst cutting costs. Pfizer stated in a statement, “While these changes are expected to bolster productivity and reduce costs, they will result in staff reductions.” The money saved as a result, will be injected into research on key diseases Pfizer is targeting, including Alzheimer’s disease, cancer, pain and inflammation, diabetes and infectious diseases.

Pfizer’s research and development activities will now be focused at 5 main sites and nine specialized units, compared with 20 prior to Pfizer’s acquisition of Wyeth. Pfizer stated, “While these changes are expected to bolster productivity and reduce costs, they will result in staff reductions.”