The move is part of a wider restructuring process arising from a significant drop in demand for its Covid-19 vaccines and treatments.
Pfizer had recently announced that it planned to cut its global costs by $3.5 billion over the next year because of the fall off in sale of its Covid-19 vaccine and Paxlovid anti-viral treatment. While the active ingredient for Paxlovid was produced in a factory in Ringaskiddy, before being made into tablets in Newbridge."Onsite operations were expanded in 2021 to meet pandemic needs but, considering the lower-than-expected utilization for our Covid-19 products, production is now scaling down in line with customer demand," the company said in a statement.
Pfizer employs around 5,000 people in Ireland across a range of business services, including manufacturing at a number of locations here.A consultation process with staff there around the job cuts is getting underway. "We have invested $9 billion since operations began in 1969 and remain committed to expanding our Grange Castle site as announced in 2022."
Source: News Formal (newsformal.com)