Related topics: Industry Drivers
Pfizer, the “world’s largest research-based drug company,” will cut 800 R&D jobs at facilities in Groton, Connecticut, St. Louis, Missouri, La Jolla, California, US and Sandwich, UK by the end of the year.
The US giant has been making extensive cutbacks for the last few years, shedding some 14,000 jobs since 2007 in a bid to trim down and prepare for impending generic competition for some of its leading brands.
The latest plans are part of September’s announcement that saw Pfizer shift its R&D away from its traditional strengths like heart drugs and obesity treatment to focus on biologics and other high-tech treatments for cancer and Alzheimer’s.
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