June 11, 2015
By Riley McDermid, BioSpace.com Breaking News Sr. Editor
San Antonio is about to get 300 new jobs over the next five years, as German medical device company Cytocentrics moves it manufacturing operations and headquarters to the city, an article in The Rivard Report said Thursday.
The high-wage jobs come after a massive push by local civic and business leaders to tempt the company to the area, including a $1 million outright incentive from the City of San Antonio.
The move overall could cost Cytocentrics $15 million, said the report, but it would be richly rewarded with tax incentives and other perks to keep it in the area.
The report also said that Cytocentrics would be involved in a collaboration with the Center for Innovation of Drug Discovery, a joint venture between the University of Texas Health Science Center at San Antonio and the University of Texas at San Antonio, as well as Alamo Colleges, for work training programs.
The company did not respond to a request for comment by deadline.
When Will Pfizer’s Breakup Happen?
Speculation that the revamping of Pfizer Inc. ’s internal business structure could happen as soon as this year has biotech wondering just when this Big Pharma company could see changes.
Last week an analyst with J.P. Morgan said he thinks there will be a much faster timeline than most of Wall Street had predicted for Pfizer’s stated mission to refocus its efforts on new medicines.
Pfizer initially announced in 2012 that it would be shedding units that were non-essential to that goal. It then promptly sold its nutrition silo to Nestle for $11.85 billion, which was rapidly accompanied by a public spin-off of its animal health business for $2.2 billion.
“While a Pfizer break-up would likely be a 2017 event, we see potential catalysts in 2015-2016,” said Chris Schott, an analyst at J.P. Morgan. “Three years of audited financial statements (2014-2016) are required before any part of Pfizer can be spun off, and we also see 2017 as an attractive time for action as investors see Pfizer’s innovative pipeline clearly contributing to growth and the established business having transitioned to a more stable profile.”
BioSpace wants to know what you think: Will Pfizer be a changed company by the end of 2015?
