The pending sale of Pfizer’s Little Island and Loughbeg plants in Cork, Ireland did not go through, according to a company statement, leaving 480 jobs at risk. The potential buyer withdrew its offer, citing that the facility does not meet its requirements. The sale of the plants, which made APIs for Pfizer drugs, was announced in February 2007 after the cholesterol drug torcetrapib failed in clinical trials. The Cork plants were slated to produce almost 40% of torcetrapib’s active ingredients. If the plants are not sold by the end of 2009, the facility will close.
   
“This is very disappointing as we were hopeful we could reach a positive conclusion,” a Pfizer spokesperson said. According to a report in the Irish Examiner, one “multinational” CMO entered due diligence and examined the plant and its accounts.
   
Pfizer is currently recruiting as many as 100 staff for its biologics facility at Shanbally in Ringaskiddy, where some of the staff at the Little Island and Loughbeg plants may be able to relocate.