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Pfizer slashing 600 jobs from its St. Louis area work force
ST. LOUIS POST-DISPATCH
Pfizer Inc. announced today its plans to slash 600 jobs from the drugmaker's 1,000-person workforce in the St. Louis area, part of a global cost-cutting crackdown in its research and development efforts. The Chesterfield research facility lost out as Pfizer, which formally merged with drugmaker Wyeth three weeks ago, moves from 20 global R&D labs to just five main labs and nine specialized units. Chesterfield will become a specialized unit focused on biologics research and later stage development of protein-based medicines. Current work on inflammation and immunology research will move to Cambridge, Mass., the company said. Pfizer's Indications Discovery unit, which hunts for new uses for older drugs, will stay in the St. Louis area, however not at Pfizer's Chesterfield campus. Employees learned of the news at 11 a.m. today as Pfizer announced changes that will result in a R&D square-footage footprint that is 35 percent smaller. The move comes as something of a shock since Pfizer only recently invested $250 million for new buildings and labs on its sprawling Chesterfield campus. Earlier this year Pfizer CEO Jeff Kinder dropped in for the facility's dedication ceremony. Now Pfizer says it will sell the entire 1.3-million-square-foot research center to Creve Coeur-based Monsanto for $435 million. Monsanto already has a sizable, if low-key presence at the center, with 250 labs and two acres of roof greenhouse space. The deal is expected to close in the first half of 2010. Pfizer said it plans to become a tenant of the facility. Pfizer spokesman Rick Chambers said that regarding the 600 jobs lost in Chesterfield, "expectations are that most of the jobs will be eliminated." tfrankel@post-dispatch.com 314-340-8110 jtomich@post-dispatch.com 314-340-8320
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