Sector News

Fierce Biotech: Pfizer is once again cutting back R&D staff in reorganization

February 25, 2015
Life sciences
Pfizer is once again trimming its R&D staff. Responding to a query from FierceBiotech regarding word of cutbacks at research facilities in Cambridge, MA, and Collegeville, PA, Pfizer spokesman Dean Mastrojohn sent back a confirmation, later declining to specify just how many jobs are being cut.
 
In a statement, Pfizer tells FierceBiotech that the company has been cutting back while readjusting its R&D group to better match its pipeline focus. Pfizer says it will also make some new hires for immuno-oncology and gene therapy, two fields where it recently completed major deals.
 
“Pfizer’s Research and Development organization periodically makes adjustments to its staffing mix to respond to shifting priorities in the portfolio and the need for the right pool of talent to deliver on these priorities,” the company said in a statement. “As a result of these adjustments, Pfizer will be making select headcount reductions in certain areas of R&D, and reallocating headcount to other growing areas of the organization. As Pfizer recently announced, the company has increased investment in areas that will position us to deliver on some of the most promising scientific advances. Immuno-oncology and gene therapy are two such areas where we plan to make additional hires in the coming months in an effort to ramp up our capabilities. As the R&D ecosystem evolves, Pfizer will continue to ensure that we have the right talent and capabilities focused in the right areas so that we can execute on our strategy of advancing Pfizer’s next wave of innovation for the benefit of patients in need.”
 
The cutbacks at Pfizer follow one of the biggest restructurings in the industry, as the pharma giant carved billions of dollars out of its research budget. Pfizer made the point two years ago that the reorganization had been completed after it downsized in Connecticut and moved more of its operations into the Cambridge/Boston supercluster. But even in 2013, R&D chief Mikael Dolsten noted that the company planned to shift its resources into new arenas as the need arose.
 
“There is a committed strategic funding for each therapeutic area that gives them critical mass, and then we will move resources as we see the most successful projects need them,” Dolsten told Reuters.
 
Since AstraZeneca successfully managed to evade an unwanted megamerger with Pfizer last year, harshly criticizing Pfizer’s R&D track record in the process, the pharma giant has been busy doing a range of ambitious deals. The company paid Merck KGaA–which has also recently been trimming R&D staff in Massachusetts–$850 million upfront to partner on a preclinical immuno-oncology program. And Pfizer also struck a broad research pact with Spark Therapeutics covering gene therapy late last year.
 
These fresh cuts also follow Sanofi’s decision a week ago to chop up its cancer R&D group in Boston as it cut back in a field where it’s enjoyed little success.
 
By John Carroll
 

comments closed

Related News

October 2, 2022

GSK names Julie Brown, a 25-year AstraZeneca veteran, its first woman CFO

Life sciences

Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.

October 2, 2022

Moderna creates new launch preparation role, poaches Novartis exec as manufacturing lead

Life sciences

Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.

October 2, 2022

Torrent Pharma to acquire Curatio for $245.16m

Life sciences

The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).