Pfizer to Close R&D Facility, Lay Off 120

Source: Financial Times

Dec 03, 2015

Pfizer plans to close a research and development facility in Cambridge, England, cutting up to 120 jobs.

The proposed closure of the research unit, known as Neusentis, is part of a broader decision to reduce early-stage R&D investment in pain therapies. Going forward, Pfizer will focus R&D efforts on neurodegenerative disease and neuropsychiatric disorders.

The cut comes on the heels of Pfizer’s $160 billion agreement last week to merge with Irish-registered Allergan.

Read the Financial Times article.

Make sure you didn't miss anything: view our monthly news recap