Pfizer announced plans to retain more than 450 employees as well as create an additional 80 jobs in St. Louis County, Missouri at a new R&D site, estimated at $200 million.
Planned for a 2020 completion, the new R&D site will be a state-of-the-art facility located in St. Louis County for Pfizer’s R&D and process development operations.
Operating in St. Louis County for more than 13 years, Pfizer currently possesses R&D labs, manufacturing operations, and office space at two different locations in the county for its biotherapeutics and vaccine development.
“The company will move its employees in the area from ‘two sites and multiple buildings’ to one location in Chesterfield, a St. Louis Suburb,” Fierce Pharma reports.
According to a statement from the St. Louis Economic Development Partnership:
“Construction of the state-of-the-art facility is expected to begin in 2017. It will be designed to develop biotherapeutic molecules such as vaccines, immune-oncology therapies, monoclonal antibodies and biosimilars in the therapeutic areas of vaccines, oncology, inflammation and immunology. Once the new building in Chesterfield is complete, Pfizer will bring employees from two sites and multiple buildings under one roof for these operations.”
“This is one of the biggest business investments in St. Louis County history with more than $200 million dollars being spent on this facility,” said Steve Stenger, St. Louis County Executive. “Securing this was a very competitive process. . . . We greatly look forward to the groundbreaking and grand opening.”
Some reports claim that the move in St. Louis is rather timely, as the company is investigating moving its Manhattan headquarters—potentially to another office space elsewhere in New York City. Though, only time will tell where they may relocate to.
Pfizer’s earnings fell almost 40 percent (to $1.32 billion) in the third quarter.
Follow us on Twitter and Facebook for updates on the latest pharmaceutical and biopharmaceutical manufacturing news!
Filed Under: Drug Discovery
