R&D- the $68 Billion Dollar Question. Today Pfizer begins the arduous process of choosing which of its R&D plants will be closed following completion of its successful buy out of Wyeth. Pfizer has 30 -60 days to complete this review review according to its chief financial officer.
Pfizer completes its takeover of Wyeth
Pfizer’s total Irish investment amounts to over €7 Billion with products as diverse as vaccines, biologics, nutrition and small molecules, and catering for both animal and human healthcare product sectors. The current combined workforce amounts to over 5000 people but this may be somewhat reduced following the conclusion of the review process which will lead to reductions in R&D, Engineering and support staff.
However, Pfizer has a significant pipe line of biopharmaceutical development products incoporating exploratory treatments for Alzheimers, Diabetes, inflamation and neuroscience.
The vast majority of these conditions are unmet medical conditions which have potentially longterm and lucrative treatment markets and as such hold the promise of long term future investment in Irish science jobs.
