Pfizer has canceled its $425 million expansion of its Grange Castle plant in Dublin, Ireland. The project would have employed 350 people and provided 1,250 jobs during construction.
According to an article in The Irish Times, the plans have changed because of the recent failure of Pfizer's late-stage pipeline drug to lower cholesterol.
Pfizer said it had found unexpected side effects with its bococizumab injection, and that it was becoming less effective over time. The article also said two rival drugs had been struggling to meet sales targets.
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