
Pfizer scraps €400m Dublin facility expansion
pharmafile | November 28, 2016 | News story | Manufacturing and Production, Sales and Marketing | Pfizer, bococizumab
Pfizer has U-turned on its intention to bolster operations at its Grange Castle, Dublin facility in a 34,500 square-metre expansion that was to create 350 jobs; just a few months after the announcement, the company has revealed the €400 million project has been scrapped.
The shocking decision was reportedly made due to Pfizer’s discontinuation of its cholesterol-lowering drug bococizumab, announced in November to industry surprise. The drug was projected to earn around $958 million by 2022, but the termination of its development was revealed alongside financial reports showing the company had fallen short of profit projections.
The expansion was planned to upgrade operational capacity to meet the needs of manufacturing the drug, dependent upon its successful development.
Pfizer released a statement on the decision which read: “We are disappointed by this outcome, but remain committed to investing in innovation, concentrating our pipeline on areas where we can bring transformational therapies to address unmet needs, including in patients with cardiovascular and metabolic diseases.”
Worth €1.8 billion and stretching across 90 acres, Grange Castle is Pfizer’s biggest facility in Ireland, manufacturing biological active ingredients for parenteral products focused on psoriasis, ankylosing spondylitis, rheumatoid arthritis and pneumococcal disease. The UK pharma giant employs 3,300 staff over seven Irish sites.
Matt Fellows
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