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Pfizer Japan Staffers To Buy Out Research Lab From U.S. Parent (Japan)

This article was originally published in PharmAsia News

Executive Summary

Approximately 80 researchers at Pfizer's Aichi Prefecture laboratory plan to take over the operations and assets through an employee buyout. Pfizer is closing the laboratory, a decision that prompted the researchers to decide to establish a new-drug venture and buy facilities and the rights to develop substances for potential new drugs from Pfizer. The researchers will take a controlling stake in this venture in April 2008, with 10 billion yen to be raised from investment funds in Japan and abroad. The laboratory's director, Atsushi Nagahisa, is expected to be named president of the venture, which will likely go public in several years. Pfizer intends to accept the employee buyout, and may take a stake in the venture. (Click here for more - May Require Paid Subscription

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