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Pfizer Packs Up, Moves Across the Thames

Monday, Nov 9, 2009 | Updated 1:15 PM EST

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Research and Development functions will be moved from this New London facility called the "Global Research & Development" headquarters.

In a major shake-up, pharmaceutical maker Pfizer announced it is closing its former R&D headquarters in New London, consolidating operations into its Groton plant across the Thames River.

Officials in New London tell The Day newspaper that they were blindsided by the announcement, especially considering the facility was built just 10 years ago and heralded as the new "Global Research and Development" headquarters of the massive company.

And New London’s loss is Groton’s gain, as town officials there are thrilled with the news.

Groton will remain as one of five “central hubs” for research, according to the company. The move comes as the drug-maker integrates operations with another manufacturer, Wyeth.

Then this: “While these changes are expected to bolster productivity and reduce costs, they will result in staff reductions.”

In a conference call, The Day newspaper reports Martin Mackay, president of Pfizer’s PharmaTherapeutics Research and Development division said:

“In Groton and New London, there will be a minimal head count effect. Our presence in Connecticut will be approximately the same … it’s about 5,000 now and that number will continue, though the makeup will change around the edges.”

Things could be worse as the company is discontinuing operations at eight locations and moving functions away from three others.