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Pfizer packs up biggest R&D site in europe and fucks off abroad.

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http://www.ft.com/cms/s/0/343590c6-2e16-11e0-a49d-00144feabdc0.html?ftcamp=rss#axzz1CjyMjBm5

they're a massive employer in my area as well, their campus is massive and the council have just spent millions on building dual carriageways to their site. Pissed.

Pfizer to close UK research centre

By Andrew Jack in London

Published: February 1 2011 15:56 | Last updated: February 1 2011 15:56

Pfizer dealt a powerful blow to drug development in the UK with the closure of its Kent operations, one of the largest life science employers and investors in the country.

The US-based drug company said on Wednesday it would close its facility in Sandwich, putting 2,400 jobs at risk over the next two years. It came as Pfizer unveiled a series of cost-cutting moves globally as it cut sales forecasts and reported a 4 per cent fall in 2010 profits to $8.3bn.

Survey shows UK factory boost - Feb-01

Sandwich is a historic site for Pfizer. Established in the 1950s, it played a pivotal role in many of the company’s leading prescription medicines over the following decades including Viagra, the impotence drug.

The closure comes in spite of recent efforts by the current and previous British governments to strengthen the UK as a centre for life science research, including the launch of a “patent box” with tax incentives for companies registering their intellectual property in the country.

Vince Cable, business secretary, said: “It is extremely disappointing that Pfizer has decided to end its research and development activity at its site in Sandwich. The company has been clear that this decision was part of its global programme of change and not based on a judgment of the UK as a location for pharmaceutical research.”

The decision was taken by Ian Read, the Scottish-born Pfizer executive who took over as head of the company in late 2010 after the abrupt departure of Jeff Kindler.

While “several hundred” jobs could be transferred to facilities elsewhere, Pfizer said “the majority” of staff at Sandwich would be made redundant.

Mr Read said the restructuring reflected Pfizer’s decision to cut the number of therapies it would work on and a need to focus “based upon where the greatest medical and commercial impact can be achieved as well as a realigned R&D footprint.” He simultaneous announced a $5bn share buy-back designed to boost Pfizer’s stock price.

Researchers at Sandwich worked on the ultimately unsuccessful development of the experimental cardiac drug tolamolol in the 1970s, but were subsequently central in the research and launch of the anti-worm treatment Mansil, the anti-rheumatic Feldene, the antifungal Diflucan and Istin and Cadura for hypertension. They also worked on HIV treatment Celsentri.

Colin Blakemore, professor of neuroscience at Oxford university, said: “This is a shocking wake-up call. The pharmaceutical industry will go where it can recruit the best trained scientists and can interact with the best university researchers.

“That is what they used to value in this country. We must respond to this signal that one of our most important industries no longer has confidence in the future of British science.”

Mr Cable said: “This country is an attractive location for the life sciences industry and with R&D tax credits and our plans to introduce a Patent Box, the government is committed to ensuring the UK is the destination of choice for investment, research and growth.”

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http://www.ft.com/cms/s/0/343590c6-2e16-11e0-a49d-00144feabdc0.html?ftcamp=rss#axzz1CjyMjBm5

they're a massive employer in my area as well, their campus is massive and the council have just spent millions on building dual carriageways to their site. Pissed.

It came as Pfizer unveiled a series of cost-cutting moves globally as it cut sales forecasts and reported a 4 per cent fall in 2010 profits to $8.3bn.

that is a PAR.

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Pissed!!! It's mad how many towns/small cities rely on certain campanies in their area.

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less people to make drugs thatll kill Nigerian kids

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http://www.ft.com/cms/s/0/343590c6-2e16-11e0-a49d-00144feabdc0.html?ftcamp=rss#axzz1CjyMjBm5

they're a massive employer in my area as well, their campus is massive and the council have just spent millions on building dual carriageways to their site. Pissed.

It came as Pfizer unveiled a series of cost-cutting moves globally as it cut sales forecasts and reported a 4 per cent fall in 2010 profits to $8.3bn.

that is a PAR.

f*ck. come on $8.5bn ffs

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less people to make drugs thatll kill Nigerian kids

silly boy

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