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Pfizer Inc., the world"s largest drug maker, will close six of its 20 research and development facilities and cut jobs in the U.S. and Britain. The company will close the research and development facilities in Princeton and New Jersey (U.S.) and Gosport (U.K.) as well as the factories in New York and North Carolina.
The decision follows the acquisition of Wyeth, a drug and vaccine producer, for 67.3 billion USD. The acquisition prompted Pfizer to downsize global research and development operations by 35 per cent.
The Pfizer management is hoping that the integration and reorganisation of the combined research and development operations of the two companies will improve productivity and efficiency as well as generate savings.
Pfizer is planning to have five major research and development centres, each specialising in specific illnesses, plus nine laboratories having dedicated research capacities.
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