Pfizer to cut workforce in response to slowing demand for Lipitor
CORK, Ireland — Pfizer announced it is eliminating 177 jobs at its plants in Ireland in response to a fall in demand for anti-cholesterol drug Lipitor, The Irish Times reported.
The company’s patent for Lipitor has expired in the U.S. and is currently coming off patent in Europe.
"Pfizer has been preparing for patent expiration for a considerable time. Patent expiry means greater competition, which impacts global demand, and we need to readjust the scale of our manufacturing operations," said Pfizer Vice President Paul Duffy.
The job cuts will take effect next year.