Tuesday, November 10, 2009

Top pharma news of the day

Pfizer to close 6 out of 20 research sites

Pfizer has announced today that is closing six out of its 20 R&D facilities, equivalent to a 35 percent reduction of its R&D square footage. It is estimated that roughly 15 percent of scientists and staff, about 2,000 people, will lose their job.

The new research organization will comprise five key research centers, each specialised on a disease area (inflammation disorders, vaccines, pain, cancer and diseases like Alzheimer and diabetes) and nine other laboratories with specialized research capabilities.

When Pfizer acquired Warner-Lambert in 2001 it spent about two years reorganizing its R&D operations and most probably that was the cause of a delay in its productivity. It seems that Pfizer wants to avoid making the same mistake twice.

See Associated Press.

Enzon Pharmaceuticals sells specialty drug business for $300M

Enzon Pharmaceuticals Inc has decided to focus on cancer treatments currently in the pipeline and has agreed to sell its specialty pharmaceutical business to Sigma-Tau, an Italy-based pharmaceutical group, for $300 million in cash and additional milestone payments of up to $27 million and 5% to 10% royalties on sales through 2014. According to Reuters the deal is expected to close during the first quarter of 2010.

The package includes a manufacturing facility in Indianapolis and four marketed products, Oncaspar for leukemia, Adagen for immunodeficiency disease (“Bubble Boy Disease”), DepoCyt for a type of meningitis and Abelcet for fungal infections.

See Reuters.

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