By James Mittra
Pfizer’s recent announcement that it will close its major R&D site at Sandwich is a clear blow both to the regional economy and the broader UK research base, but the decision also illustrates the continuing tumult within Big Pharma. Companies continue to experiment with large scale merger and acquisition activity and “R&D rationalisations” as they try to deal with deeper challenges of blockbuster innovation; including low productivity; high regulatory hurdles; the financial markets’ demand for sustainable growth strategies and the ‘patent cliff’ that most multinationals are facing in the next couple of years.
