(The New York Times online - 12/11/2010)
The American pharmaceutical company Pfizer expects to pass the 15% personnel cut announced following the acquisition of Wyeth. The company, which did not specify the extent of the new cut, also plans to make additions to its workforce in some specific sectors. According to estimates by Dow Jones Newswires, Pfizer has already cut about 14% of the workforce.
Pfizer: 'Ready to invest in Italy, but conditions are created' – INTERVIEW
THURSDAY 11 NOVEMBER 2010
Cosentino speaks, new president and CEO of the Italian branch (Il Sole 24 Ore Radiocor) – Rome, November 11 – Pfizer is interested in boosting investments in Italy but certainties and incentives are needed. This was stated in an interview with Radiocor il neo CEO and president of Pfizer Italy Ugo Cosentino: "We are ready to invest. In Italy we are in Catania, ad Ascoli Piceno and Aprilia. In Milan we have the world cancer research center with over one hundred researchers. Our willingness is very evident but, in the face of this, we have many actions to contain prices and reduce the prices of even innovative products which allow us to reflect on the long-term prospects and whether this is really the ideal country in which to do investments" Pfizer invests in research "worldwide about 8 billion dollars. The localization of the investments takes place on the basis of the environmental conditions. In Italy – underlines Cosentino – we have an interesting investment in research of 70 million euros" but the decision to invest in research and industrial presence in a country also affects "that the environmental conditions and incentives. Italy today is a country that offers some attractions but, in my battle to direct investments towards this country, the lack of concessions compared to other countries are evident". In Italy, Cosentino recalls, investments are made in research "the 1% of the GDP against one European average of 2% and peaks of excellence of 4%: we realize that the environmental conditions are not necessarily the ideal ones for investing in an even more interesting way. It is clear that Pfizer's presence in Italy, the continuation of our investment, will be part of it
