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US pharmaceutical corporation Pfizer announced plans this week to abandon research of new drugs to treat Alzheimer’s and Parkinson’s diseases. The decision will result in about 300 layoffs in the company’s neuroscience discovery and early development programs, which are located in Massachusetts and Connecticut, according to a statement emailed to journalists.
“We have made the decision to end our neuroscience discovery and early development efforts and reallocate funding to those areas where we have strong scientific leadership and that will allow us to provide the greatest impact for patients,” the company says in the statement (via Reuters).
According to Reuters, Pfizer will continue to develop some drugs in its neuroscience pipeline, such as tanezumab, for osteoarthritis-related joint pain and Lyrica (pregabalin), which is used to ...
