Pfizer, the largest pharmaceutical company in the world, and is proud of his scientific insight, announced yesterday it will reduce spending on R & D in 2012 by about 20%, from $ 8.5 billion to $ 7 billion. The company also said it will close a research center in Sandwich, U.K., which employs a staff of approximately 2400 and substantially reduce its US research center in Groton, Connecticut. Meanwhile, Pfizer plans to increase its research staff in Cambridge, Massachusetts, by several hundred, according to unofficial estimates. The purpose, CEO Ian Read said in a conference call with investors, will "fix our innovative base." Read, who took over in a quick change at the helm in December, said he hopes to instill an "entrepreneurial sense" and a "culture results in research."
Before the announcement , the price of Pfizer shares had been drifting down because he faces business challenges the company is losing exclusive control of several important drugs. - including this year's US rights to Lipitor, a key product. at the same time, new drugs have been slow to come out of the research labs, even after Pfizer's efforts to expand its pipeline following a takeover of Wyeth in 09. reshuffle Pfizer aims to streamline the organization and focus on products that give "consistent returns" on the market, Read said.
the reorganization will reduce costs. to help boost the value of shares Pfizer has set aside $ 5 billion to buy some of its shares.
Some governments and research U.K. leaders were shaken by the announcement of Pfizer. The BBC reported that Colin Blakemore, a neuroscientist at Oxford University and former head of the Medical Research Council of Great Britain, given the decision of Pfizer as a "call shocking awakening." He interpreted as a "signal that the one of our most important industries no longer has confidence in the future of British science. " But Pfizer officials hastened to deny it. "Sandwich has an extremely talented workforce with a proud and rich history in research and development of science. This decision is without thinking about the site, the workforce or the operating environment UK, "said Pfizer Chief in Sandwich, Ruth McKernan.
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