02.08.07
Pfizer has plans to discontinue or reduce manufacturing at three sites in southern Ireland, including the closing of its Ringaskiddy site in County Cork by the end of 2007, resulting in the loss of approximately 65 jobs.
According last month's announcement, the company said it would reduce its global plant network by more than 50% during the course of four years and eliminate 7,800 jobs in an effort to save $1 billion by the end of 2008. The company will also phase out some API manufacturing at part of its nearby Little Island site and end all production at its Loughbeg plant in 2008 and 2009.
The company's recent decision to end trials of its cholesterol drug, torcetrapib, due to safety concerns had been "by far the most significant factor impacting future capacity demand in Ireland," said Terry Lambe, Pfizer's vice president of manufacturing for Ireland and Singapore.
According to a company statement, Pfizer said it would sell the affected operations at the Little Island and Loughbeg plants in an effort to save as many as 480 jobs.
According last month's announcement, the company said it would reduce its global plant network by more than 50% during the course of four years and eliminate 7,800 jobs in an effort to save $1 billion by the end of 2008. The company will also phase out some API manufacturing at part of its nearby Little Island site and end all production at its Loughbeg plant in 2008 and 2009.
The company's recent decision to end trials of its cholesterol drug, torcetrapib, due to safety concerns had been "by far the most significant factor impacting future capacity demand in Ireland," said Terry Lambe, Pfizer's vice president of manufacturing for Ireland and Singapore.
According to a company statement, Pfizer said it would sell the affected operations at the Little Island and Loughbeg plants in an effort to save as many as 480 jobs.