Pfizer is budgeting €130 million for the construction of a new facility in France to specialize in the development of inhaled meds. Plans for the facility in Amboise include a staff of 440, more than making up for the loss of 110 jobs in the town when Pfizer closes a separate R&D operation. Work on the new facility begins this year and should take about five years.
As In-Pharma reports, the move by Pfizer shows that it still believes in the future of inhaled medications, even after the troubles it had with the Exubera fiasco [1], for which it incurred a charge of $2.8 billion.
- read the AFX report [2]
- and here's the article [3] from in-Pharma
ALSO: Nektar, meanwhile, is cutting more than 100 staffers and eliminating 40 open positions as it restructures in the wake of Pfizer's withdrawal as a partner on Exubera. COO Dr. Hoyoung Huh is leaving Nektar to become CEO of BiPay Sciences in Australia. Report [4]
Related Articles:
Pfizer pays $135M to ease Exubera pain. Report [1]
Pfizer kills off Exubera, hunts for deals. Report [5]
Exubera becoming a big disappointment for Pfizer. Report [6]
UK: Exubera not worth the price. Report [7]
FDA approves Pfizer's inhaled insulin. Report [8]
Links:
[1] http://www.fiercepharma.com/story/pfizer-pays-135m-ease-exubera-pain/2007-11-13
[2] http://www.forbes.com/markets/feeds/afx/2008/02/12/afx4645463.html
[3] http://www.in-pharmatechnologist.com/news/ng.asp?n=83217-pfizer-nektar-exubera-inhaler
[4] http://www.fiercebiotech.com/press-releases/nektar-announces-restructuring-complete-its-transition-therapeutics-drug-developmen-0
[5] http://www.fiercepharma.com/story/pfizer-kills-exubera-hunts-deals/2007-10-18
[6] http://www.fiercebiotech.com/story/exubera-becoming-a-big-disappointment-for-pfizer/2007-04-10
[7] http://www.fiercebiotech.com/story/spotlight-uk-exubera-not-worth-the-price/2006-04-18
[8] http://www.fiercebiotech.com/story/fda-approves-pfizer-s-inhaled-insulin/2006-01-30