Pfizer Announces Post-Acquisition R&D Cutbacks

Following the completion of the US$67.3bn acquisition of drugmaker Wyeth, multinational company Pfizer is to reduce its global square footage devoted to research and development (R&D) by 35%. Pfizer will now conduct R&D at five main sites and nine specialised units globally, down from 20 sites at the time the Wyeth acquisition was completed. Pfizer is to discontinue R&D operations in Princeton, New Jersey; Chazy, Rouses Point and Plattsburgh, New York; Sanford and Research Triangle Park, North Carolina; and Gosport, Slough/Taplow, United Kingdom. The company has not commented on the number of jobs that will be cut as a

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