Pfizer funds Irish R&D facility

Earlier this week Pfizer announced that it was canceling plans to build a new research facility in San Francisco's Mission Bay neighborhood. Last summer the pharma giant said it would move about 100 employees to two properties in Mission Bay, which it leased for 15 years. The site was supposed to become the headquarters of the company's Biotherapeutics and Bioinnovation center. Corey Goodman was slated to head up the project, but he resigned from Pfizer in April. Pfizer said that Goodman's departure wasn't the reason for its cancelled plans; rather, the company chose to back out of San Francisco after examining its real estate holdings in light of the Wyeth buyout.

Today Pfizer announced that it is investing €11 million in R&D at its manufacturing facility in Ringaskiddy, Ireland, where 550 people are already employed. The Ringaskiddy site is a major producer of active pharmaceutical ingredient for several of Pfizer's bestselling drugs. This new investment is good news for Ireland, which has already seen Pfizer close or sell three production plans in the wake of its restructuring.

- here's the report on the Mission Bay cancellation
- read Pharmafocus' piece on Pfizer's Ireland plans