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Pfizer to Close Ann Arbor Campus


tracer1138

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When I heard this, I couldn't believe it. This is a HUGE blow to these two regions, and particularly Kazoo. That they didn't just cut some jobs and decided to move the close the whole operation says a lot. If anything happened, though, I'm sure it was Pfizer trying to extort the state. lol But, it's probably more likely that Pfizer just isn't doing so well, right now.

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Pfizer would not get far if they were asking for tax breaks. I read an article this weekend, and the future looks pretty bleak there:

- Lipitor, their best-seller, runs its patent out in 2010 (about $12 Billion/year in revenue lost)

- Other patent expirations will decrease revenue by $14 Billion in 2008

- Scrapped development of Torceptrapib, the replacement for Lipitor, due to patient deaths

- Lost Zoloft patent last year

- Only has 3 drugs in development now that analysts expect to reach a combined revenue of $1 Billion.

Their only hope is acquisitions. Just plain sucks.

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Well, I knew Pfizer wasn't doing too well with their future outlook. I had heard that it was possible their Ann Arbor campus would at some time be in jeopardy, but I didn't expect it so soon. I thought it would be a more gradual closing down for a period of 5 to 7 years. But with all the recent construction on their campus, it was hard to imagine this kind of sudden announcement.

I drove past it all today and was thinking, damn.. that's just a TON of laboratory and office space. I doubt the university would ever have much use of it.

Is it bad to think ahead right now? Should Pfizer demolish the entire campus after they leave and sell off the land?

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  • 2 weeks later...
From what I hear, highly unlikely. Pfizer isn't doing so well right now and they want to consolidate research and development in their Gronton, Connecticut location. So unless the state were somehow able to convince them to move their entire reasearch component here, we were going to lose out. So in short, it has less to do with us than it has to do with them.

HAPPY 100 POSTS TO ME!!!

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  • 2 weeks later...

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