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05/06/2012
Fear Express Over Possible Pfizer Job Cuts
Concerns have been raised over the security of up to 180 jobs at pharmaceutical company Pfizer in Co Cork.
It follows a 19% drop in profits in the first quarter of the year, due mostly to falling global sales of its cholesterol drug Lipitor, which has come off patent in the United States and in Europe.
A number of Pfizer's drugs have now either come off patent or are about to do so, hitting sales of the drug and the company's revenues.
However the ending of patents were expected to have an impact on its operations in this country.
Concerns over the company have been renewed following reports that the company is planning to shed up to 180 jobs at Little Island and Ringaskiddy in Co Cork.
One of the most successful and longest-established multi-nationals operating in this country, Pfizer currently employs 4,000 people and has invested more than €5.5 billion in Ireland.
A company spokeswoman said Pfizer does not comment on speculation, and any information would be shared first with its employees.
(H/GK)
It follows a 19% drop in profits in the first quarter of the year, due mostly to falling global sales of its cholesterol drug Lipitor, which has come off patent in the United States and in Europe.
A number of Pfizer's drugs have now either come off patent or are about to do so, hitting sales of the drug and the company's revenues.
However the ending of patents were expected to have an impact on its operations in this country.
Concerns over the company have been renewed following reports that the company is planning to shed up to 180 jobs at Little Island and Ringaskiddy in Co Cork.
One of the most successful and longest-established multi-nationals operating in this country, Pfizer currently employs 4,000 people and has invested more than €5.5 billion in Ireland.
A company spokeswoman said Pfizer does not comment on speculation, and any information would be shared first with its employees.
(H/GK)
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