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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Pfizer to Cut 177 Jobs at Ireland API Plants

6:17 AM MDT | June 7, 2012 | Deepti Ramesh

Pfizer plans to cut 177 jobs at the company’s two active pharmaceutical ingredient (API) manufacturing plants at Cork, Ireland. The two plants are located at Little Island and Ringaskiddy. The job cuts will take effect in 2013. The move is mainly in response to Pfizer’s cholesterol-lowering drug Lipitor going off patent last year. Lipitor is the world’s top-selling drug. Intermediates and final API for Lipitor are supplied from Cork. “Patent expiry means greater competition which impacts global demand, and we need to readjust the scale of...

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