Fierce Biotech April 17, 2024
Pfizer’s cost cuts that began last year have stretched to the closure of a well-known internal R&D team that focused on partnering with physician-scientists to launch new medicines, including one that ultimately became the center of a $7.1 billion acquisition from Roche.
A website for the Centers for Therapeutics Innovation (CTI) now directs to Pfizer’s more general partnering website. A spokesperson for the Big Pharma told Fierce Biotech that the company decided to close CTI’s laboratories and “embed certain CTI projects within the research units of our R&D organization.”
The drugmaker made the decision “as part of the company’s enterprise-wide cost realignment program,” the spokesperson confirmed.
“Pfizer has many other academic collaborations that exist outside of CTI and...
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