The decision came after a routine R&D review. The job cuts will affect employees in Lake Forest, Ill. and Chennai, India.
Pfizer said it does not plan to leave the biosimilar market with the cuts, but instead it opted to trim some of its earlier stage programs to reallocate the money to its late-stage development programs.
The job cuts are expected to occur in three waves. The R&D units affected were those Pfizer obtained when it acquired Hospira three years ago.
Read the full report here.
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