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, for which it incurred a charge of $2.8 billion.
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