Pfizer has decided that it does not need the legacy distribution sites that it got with the $15 billion buyout of Hospira last year and so will close four facilities across the U.S., consolidating distribution into two Pfizer logistics centers next year. In the process it will whack 104 jobs.
A Pfizer spokeswoman said today a decision has been made to close “legacy Hospira logistics centers” in Atlanta, Dallas, Los Angeles and King of Prussia, PA, by Q2 next year. It will move distribution from those sites to Pfizer logistics centers in Memphis, TN, and Pleasant Prairie, WI.
“Pfizer has conducted a thorough evaluation of the combined distribution network and has decided to consolidate distribution operations into the Memphis Logistic Center and the Pleasant Prairie Logistics Center,” Kimberly A. Bencker said in an email today. “As a result, we have decided to consolidate the logistics centers to enable us to be more efficient, improve our overall effectiveness, reduce costs and, generally be better able to competitively supply our products to our customers.”
The closures will result in the loss of 40 jobs in Atlanta, 23 colleagues in Los Angeles, 22 in King of Prussia and 19 in Dallas, Bencker said.
This announcement comes a couple of months after Pfizer said about 100 jobs would be lost by 2019 when it closes a 50,000-square-foot Hospira manufacturing facility in Boulder, CO, that is underutilized.
Pfizer is already seeing significant upside from the buyout. In Q2 earnings released earlier this month, it reported that Hospira buyout helped drive an 11% revenue increase to $13.15 billion, beating analyst expectations. In fact, without the boost from the Hospira, sales at the company’s Essential Health unit–previously known by the “established products” name–would have slipped by 6%, or 3% without currency setbacks.
By Eric Palmer
Source: Fierce Pharma
Hybrid closed-loop systems rely on an algorithm to first analyze real-time blood sugar readings from a continuous glucose monitor, then use the results to adjust an insulin pump’s output as needed throughout the day. In this case, the algorithm was developed by Diabeloop, the CGM is a Dexcom G6 sensor, and the insulin pump comes from ViCentra.
Boehringer Ingelheim has acquired bacterial cancer therapy company T3 Pharmaceuticals in a deal that could be worth up to 450 million Swiss francs ($508 million). The addition of Allschwil, Switzerland-based T3 will “significantly expand” the German drugmaker’s immuno-oncology pipeline and aligns with some of the company’s existing R&D programs.
EuroAPI has completed the acquisition of BianoGMP, a contract development and manufacturing organization (CDMO) specializing in oligonucleotides. The acquisition, announced in August, further differentiates its value proposition to support a broader client base across the whole oligonucleotide development continuum, from research to commercialization, EuroAPI said.