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Pfizer, Inc. (New York, NY) will phase out manufacturing operations in Groton, Connecticut, eliminating roughly 300 jobs.
Pfizer, Inc. (New York, NY, www.pfizer.com) will phase out manufacturingoperations in Groton, Connecticut, eliminating roughly 300 jobs.
The move would allow the company to expand its research and developmentoperations in Groton near the 50-acre manufacturing site. Pfizer'sGroton and New London sites in Connecticut are the company's largestresearch sites, employing roughly 6000 people.
The move is part of Pfizer's company-wide restructuring effort,announced in 2005, under which Pfizer hopes to save $4 billion annuallyby 2008.
Pfizer plans to begin cutting its Groton manufacturing operations in2007. The facility makes active ingredients for several pharmaceuticalsand animal health products, and the company plans to transfer the manufacture of those products to other plants.