News:
Pfizer to cut 800 scientists
[Entry posted at 13th January 2009 07:41 PM GMT]

Pfizer will eliminate 5 to 8 percent of its global research staff this year, totaling about 800 people, according to a spokesperson for the company.

Pfizer began one-on-one conversations today with colleagues getting the boot, with the majority of lay-offs happening in the next several months, company spokesperson Christopher Loder told The Scientist.

Loder declined to provide details on which research divisions will be hit the hardest but emphasized that Pfizer is honing its research staff to six major areas of disease research: oncology, Alzheimer's, schizophrenia, pain, diabetes, and inflammation.

"We do not make these decisions lightly," he said. "We are aware that this decision will affect a of number people, colleagues, and their family. We are committed to supporting our colleagues through this transition."

Pfizer suffered last year from slumping sales of its blockbuster cholesterol drug Lipitor, thanks to the availability of a generic version.

"This is probably not the end" of layoffs at Pfizer, Erik Gordon, a professor at the University of Michigan Business School and biopharmaceutical analyst, told The New York Times.

The pharmaceutical giant is not the only one cutting jobs and reorganizing priorities. Last October Merck announced that it would slash 7,200 jobs by 2011. In addition, Merck and Novartis both have recently revamped their research and development tactics.


Related stories:
  • Merck to cut jobs
    [22nd October 2008]
  • New directions for drug discovery
    [9th December 2008]
  • Pfizer embraces stem cells
    [24th September 2008]




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