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Merger Flu Lethal to Six Pfizer R&D Sites and 2,000 Employees
SAN DIEGO, CALIFORNIA--November 11, 2009--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Early Monday morning, the buzz at the International Society of Pharmaceutical Engineers (ISPE) conference in San Diego, California, was that Pfizer Incorporated (NYSE:PFE) (New York, New York) was planning to sell its massive St. Louis/Chesterfield, Missouri, research site to Monsanto Company (NYSE:MON) (St. Louis). By day's end, the truth had proven to be more dramatic than the rumors: To achieve a 35% reduction in global square footage, the company is going to close six research and development sites across the United States and lay off an estimated 2,000 people.
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Industry Segment: Pharmaceutical & Biotech
Word Count: 448 Words
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