€400 million manufacturing plant expansion cancelled and two facilities to close

US pharmaceutical giant Pfizer has pulled the plug on a €400 million (£340 million) expansion of its Grange Castle manufacturing plant in Ireland. The move follows its decision to discontinue global development of the high-profile cholesterol drug bococizumab owing to unanticipated side-effects and poor efficacy. The planned expansion would have generated around 350 permanent jobs.

In addition, Pfizer plans to close two supply facilities in the UK, including a compounding site in Park Royal, London, that it acquired as part of Hospira earlier this year. The company intends to close the facility, which employs around 100 people, by May 2017. Pfizer also expects to close its cold-chain packaging and distribution site in Havant (where over 270 people are employed) by the end of 2020.

‘It is important to note that these proposals are in no way related to the result of the Brexit decision,’ Pfizer stated. ‘Our priority at this time is to support affected colleagues and where possible to mitigate against job losses resulting from these proposals.’