Mergers Hamper Innovation, Ex-Pfizer Top Exec Says

NEW HAVEN >> A former executive in charge of research and development at Pfizer Inc. said consolidation within the pharmaceutical industry is hurting innovation.

Dr. John LaMattina, former president of global research and development at Pfizer, said Wednesday that as the number of players in the industry shrinks, the amount of money devoted to research and development of new drugs also drops dramatically. LaMattina made his remarks to a group of Yale University students and industry professionals as part of an event in Connecticut United for Research Excellence’s (CURE) BioHaven entrepreneurship series at the university’s Anlyan Center.

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