Nano Science and Technology Institute

Pfizer Streamlines Its Research Labs

Pfizer’s four-year plan to restructure its research labs will include focusing its research on specific diseases and limiting money spent on early stage drug development. While the company does not plan to decrease its $8 billion research budget, the reorganization of its research unit will allow the company to focus only on those drug components that have the most potential for the marketplace. Pfizer’s decision is based on escalating costs and a long timeline for drug discovery: more than $900 million is spent by a company to develop a drug, and it takes about 16 years for a drug to go from the discovery stage to market. (Sources: Tufts Center for the Study of Drug Development and BioWorld)

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