As a result, the company will cut 300 jobs, primarily in Massachusetts and Connecticut.
Alzheimer’s has long been hailed the holy grail of biotech. It is a disease that company after company have failed to dissect and conquer. As Ramaswamy’s Axovant pulls the plug on a program due to another failed trial, Pfizer is abandoning ship completely. The company is throwing in the towel on research and development into new neuroscience development, including Alzheimer’s and Parkinson’s. As a result, it will cut 300 jobs, primarily in Cambridge and Andover, Massachusetts and in Groton, Connecticut. About 200 of the job cuts will be in Massachusetts, the remaining in Connecticut.
Unfortunately, other companies are cost-cutting as well. Most notably, Allergan is bringing down the ax on 1,000+ jobs. The public was forewarned in November of last year so the cuts are not unexpected.
Here’s a roundup of these stories and other top career news from the past month.
- Pfizer to Cut 300 Jobs as It Ends Alzheimer’s, Parkinson’s Quest
- Bay Area’s Veracyte to Consolidate R&D Into One Department in Realignment
- Pernix Takes the Ax to 22% of Workforce in Reorg
- Allergan to Slash 1,000+ Jobs
- OvaScience Pinks Slips Nearly 50% of Workforce
Read More From Karl Thiel:
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