Asia is the benificiary of Pfizer looking to
1. Research and Development
2. manufacturing.
Pfizer wants to cut as much as 30% in manufacturing costs.
Reasons:
1. Competition from generic drugs
2. Expiring of some important patent drugs.
Pfizer announced plans to outsource more in Asia - mostly
Pfizer is not amongst its good times, last year was quite rough, and high profile clinical trial failure of the drug called Torcetrapib only added wound to the woe.
"The company's presence in the region is likely to wind up with a net increase of about 1,300 positions when all the changes are over, said Tony Sheridan,
executive director of the Chamber of Commerce of
The closing of manufacturing plants worldwide, including at sites in Sandwich, England, Brooklyn, N.Y., and Omaha, Neb., is part of a Pfizer effort to save $2 billion by the end of next year. A total of at least 22 manufacturing plants have been targeted for closure over a two-year period."
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