Pfizer have we been stiffed again

[sussexjob]

The initial message was deleted from this topic on 01 February 2011 at 22:34

[grumbledoak]

sussexjob said:

I can only believe this ia another closure that will spring up again in India at lower labour costs and better educated workforce, the Goverment must know the only way forward is to lower corperation tax.

Well, great. That's intelligible. Really.

[Barreti]

sussexjob said:

.... and better educated workforce

Based on existing evidence that doesn't look like it will be much of a challenge.

[GTIR]

I bought a sandwich in Sandwich and it gave me food poisoning.

How weird is that st man!

[sussexjob]

Sorry, must not drink at dinner.

[grumbledoak]

Just try again. With links to some news sources, preferably.

You know, to give us a clue.

[Uhura fighter]

TVR Moneypit said:

GTIR said:

I bought a sandwich in Sandwich and it gave me food poisoning.

How weird is that st man!

What was it called?

Campylobacter?

[munroman]

Since Viagra was renamed mycoxafloppin sales have held up well!

[captainzep]

Its going to be a massive blow to Kent, the Eastern reaches in particular.

Pfizer employees were well-paid family types who spent a lot locally. Local housing market will be damaged and this is set against an area (Thanet) which is amongst the poorest in the country.

I'm not sure how much the Govt is to blame. After Viagra, Pfizer threw a lot of money at R&D, thinking that they could discover 'blockbuster' drugs due to the weight of scientific investment and talent. It didn't bear fruit and their pipeline remains limited. Drugs like Viagra and crucially Lipitor going off patent scared away shareholders so Pfizer acquired other product lines via various aquisitions both big (e.g. Wyeth)and small. This has led to a relatively strong short to mid-term future, where US and UK scientific talent starts to look pricey against the rising equivalent talent and running costs in China and India.

On the upside, anyone with Pfizer shares saw a 5% jump in their value yesterday.

[Ross1988]

captainzep said:

Its going to be a massive blow to Kent, the Eastern reaches in particular.

Pfizer employees were well-paid family types who spent a lot locally. Local housing market will be damaged and this is set against an area (Thanet) which is amongst the poorest in the country.

I'm not sure how much the Govt is to blame. After Viagra, Pfizer threw a lot of money at R&D, thinking that they could discover 'blockbuster' drugs due to the weight of scientific investment and talent. It didn't bear fruit and their pipeline remains limited. Drugs like Viagra and crucially Lipitor going off patent scared away shareholders so Pfizer acquired other product lines via various aquisitions both big (e.g. Wyeth)and small. This has led to a relatively strong short to mid-term future, where US and UK scientific talent starts to look pricey against the rising equivalent talent and running costs in China and India.

On the upside, anyone with Pfizer shares saw a 5% jump in their value yesterday.

Sounds like its establishment there had run its course to me then. Does anyone know if the UK still attracts foreign investment of any magnitude?

[mattviatura]

I can't believe nobody has mentioned the "stiffed" bit in the title yet.

[DrYazz]

Very sad news.

Spent a year working in Clinical Research at Pfizer at the Sandwich R&D site about 10 years ago, at the time of the acquisition of Warner Lambert.

Absolutely loved my time there. And the area.

[ClaphamGT3]

DrYazz said:

Very sad news.

Spent a year working in Clinical Research at Pfizer at the Sandwich R&D site about 10 years ago, at the time of the acquisition of Warner Lambert.

Absolutely loved my time there. And the area.

I was there at about that time working on secondment with GO PGRD; loved it - happy times

[DrYazz]

ClaphamGT3 said:

DrYazz said:

Very sad news.

Spent a year working in Clinical Research at Pfizer at the Sandwich R&D site about 10 years ago, at the time of the acquisition of Warner Lambert.

Absolutely loved my time there. And the area.

I was there at about that time working on secondment with GO PGRD; loved it - happy times

Pardon me for being dim, but what did GO PGRD stand for? Pharma Global R&D?

I was based in either building 501, 502 or 503. These were all very new buildings, modern, clean quiet and very conducive to getting lots of work done. They cost millions to build..........and what now?

It really was a fantastic place to work.

[ClaphamGT3]

DrYazz said:

Pardon me for being dim, but what did GO PGRD stand for? Pharma Global R&D?

I was based in either building 501, 502 or 503. These were all very new buildings, modern, clean quiet and very conducive to getting lots of work done. They cost millions to build..........and what now?

It really was a fantastic place to work.

Global Operations Pfizer Global Research & Development. My role was around transitioning the business into those buildings

[captainzep]

DrYazz said:

I was based in either building 501, 502 or 503. These were all very new buildings, modern, clean quiet and very conducive to getting lots of work done. They cost millions to build..........and what now?

Kent County Council and local partners are trying to help bring new small pharma/tech companies in. They'll have job filling the space though. The site is almost bigger than Sandwich itself. Has its own (leisure centre sized) sports club and sports pitches up the road too.

[DrYazz]

ClaphamGT3 said:

DrYazz said:

Pardon me for being dim, but what did GO PGRD stand for? Pharma Global R&D?

I was based in either building 501, 502 or 503. These were all very new buildings, modern, clean quiet and very conducive to getting lots of work done. They cost millions to build..........and what now?

It really was a fantastic place to work.

Global Operations Pfizer Global Research & Development. My role was around transitioning the business into those buildings

Very interesting, very very interesting.
I think you did a good job there. Everyone I spoke to liked their working environment. Spent many a hot summer lunchtime by the outside pond and winter lunchtimes by the indoor pond.

ps I don't have a pond fetish.

[Prof Prolapse]

They've been winding down for years. It's well known that they've only continued to maintain current trials without taking on new work.

The glory days of big pharma are over. The complex regulatory environment has made it so expensive to produce drugs in the UK (and Europe) it's no wonder they're going elsewhere.

Trust me it's a fking nightmare to get things running in this country.

[bga]

This has been known for ages. They have a few patents that are just about expire and there is a lot of staff they have to move or make redundant in the UK.

[captainzep]

bga said:

This has been known for ages. They have a few patents that are just about expire and there is a lot of staff they have to move or make redundant in the UK.

Mrs Zep worked there for a while rather than me, but the closure of the site was an ongoing corridor rumour whispered by the gossipers for years. Few people really believed it. The patents problem had been largely cancelled out by the Wyeth acquisition amongst others. The real reason it seems, is the decision to halt the allergies and respiritory research areas.

It had been on the cards for a while and dribs and drabs of function had gone over the last 5 years. However even quite senior people didn't know until yesterday morning. The reported 6 month to 2 year wind-down seems a bit far fetched too. All of Mrs Zep's old colleagues have been given the statutory 3 months' notice.