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Pfizer To Close Sandwich Site

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Pfizer have announced that they are closing their remaining UK site by the end of next year, there goes another 2400 jobs, appearing on sky just now:

Sky News Link

U.S. drugs giant, Pfizer, has announced plans to close its operations in Kent with the loss of up to 2,400 jobs.The decision will affect the firm's research and development centre in Sandwich, which will shut down over the next two years.

The company said the move was part of a global restructuring programme "to create a more focused and sustainable R&D engine for innovation", including an exit from the 'allergies and respiratory' market.

Dr Ruth McKernan the company's head at Sandwich said: "It is with a deep sense of sadness that we announce our proposal to exit our site in Sandwich, Kent.

"It has played an important role in the discovery and development of medicines and has brought many life-saving treatments to patients."

Pfizer said it is working actively to find partnership opportunities to use the facilities and preserve jobs.

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East Kent is already an unemployment black spot so this will be disastrous for the local economy, 2400 job losses at Pfizer will probably lead to another 1800 job losses in the wider local economy, pubs, shops etc...

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Pfizer said it is working actively to find partnership opportunities to use the facilities and preserve jobs.

Lucky really cos there are literally dozens of multi-billion dollar pharmaceutical giants in their region.

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"...including research into the acoustic aspects of flatulence
."

Sounds like a lot airy work was being done there that no one really cared about? :D

Sandwich is the back end of nowhere too--they kept the housing market going there for decades. And now everyone will be wanting to sell quick before others realise the local economy will be blighted soon.

Edited by Realistbear

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Oh dear, this is really bad news. For a variety of reasons Britain is just about the world leader in medical and pharmaceutical research so to see this kind of thing happening is terrible. I really wonder what Britain is going to look like in ten years time, everything seems to be closing. Still at least Sandwich is far enough away from Maidstone so that Sibley won`t be affected.

From the article

"A company spokesperson said the decision to close Sandwich did not reflect any unhappiness with government policy."

I wonder that they are complaining about?

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Oh dear, this is really bad news. For a variety of reasons Britain is just about the world leader in medical and pharmaceutical research so to see this kind of thing happening is terrible. I really wonder what Britain is going to look like in ten years time, everything seems to be closing. Still at least Sandwich is far enough away from Maidstone so that Sibley won`t be affected.

From the article

"A company spokesperson said the decision to close Sandwich did not reflect any unhappiness with government policy."

I wonder that they are complaining about?

to be at the top, you gotta keep being there...I guess Its cheaper to do research in China with those clever Chinese researchers.

Is Sandwich near Maidstone?

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Just announced. With a loss of 2400 relatively well-paying jobs, anybody want to guess what's going to happen to house prices in East Kent?

http://www.bbc.co.uk/news/business-12335801

[****, that was not what I wanted my first post to be like...]

If house prices hadn't done what they did in the first place - or were allowed to correct then maybe the owners andd employees would have had a jab at making a go of it for longer. Cost of living bears heavily on the cost of production.

Not now though.

Many more will go until this myopic economic experiment is consigned to the medical waste bin.

Edited by OnlyMe

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Wow, I have friends who used to work there and a lot of these are middle class professional jobs - people with science PhDs and MDs working in labs and offices.

In all truth though, pharma has been in a bit of a death spiral for a while. Good small molecule drugs are getting harder and harder to find and the new biologicals are mostly an expensive pipedream.

If housing costs in Kent fell by two thirds you could employ scientists to research new drugs a lot more cheaply... What am I saying, everybody knows falling house prices are bad for the economy!

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Just announced. With a loss of 2400 relatively well-paying jobs, anybody want to guess what's going to happen to house prices in East Kent?

Strangely enough, this could be little more than irrelevant to the future direction of houseprices in the area

I posted earlier in the week something about the loss of major manufacturing employers in Coventry during the early noughties. Massey Ferguson, Marconi and Rover were all good payers. The later losses of Peugeot and Jaguar (also very good payers for semi / low skilled jobs) similarly had no effect.

In fact huge HPI experienced across the country 2001-2004 was mirrored in Coventry at the time these places were actually closing down or flagged up as being in danger, yet the 3 bed terraced houses these factory workers lived in doubled in price in 3-4 years

The only factor for house prices in this area is mortgage availability and the desire (& necessary deposit) to take on that mortgage.

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Getting the inside scoop on this as I used to work there...

Still keeping their Cambridge site open (smaller than Sandwich) and other UK sites affected to be announced later. Ruth "McSherman" lives in the Cambridge area and spends a lot of time at the Cambridge site so this would explain the bankster type behaviour of looking after your own. :angry: :angry: :angry:

East Kent officially fecked now. The only choices were Pfizer, Saga or the commute to London.

People are very angry on site now as they were given assurances last year that their jobs were safe. PAH!

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Strangely enough, this could be little more than irrelevant to the future direction of houseprices in the area

I posted earlier in the week something about the loss of major manufacturing employers in Coventry during the early noughties. Massey Ferguson, Marconi and Rover were all good payers. The later losses of Peugeot and Jaguar (also very good payers for semi / low skilled jobs) similarly had no effect.

In fact huge HPI experienced across the country 2001-2004 was mirrored in Coventry at the time these places were actually closing down or flagged up as being in danger, yet the 3 bed terraced houses these factory workers lived in doubled in price in 3-4 years

The only factor for house prices in this area is mortgage availability and the desire (& necessary deposit) to take on that mortgage.

Good point above - but East Kent is out on a limb geographically and other Pharmas are not within communiting distance. People will need to move. In order to move they will have to sell their houses.....

If the Wilsons go belly up soon the bottom will fall out of the market.

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Is this where they manufacture Viagra (The Famous Pfizer Rizer)?

This has got to be highly deflationary surely?

Viagra was discovered in Sandwich - but it is no longer manufactured there. Outsourced overseas :angry:

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http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1173&minPrice=170000&maxPrice=250000&maxDaysSinceAdded=1

No new properties added on RM in the last 24 hours in Sandwich. I wonder if a couple of thousand of the 2,400 being laid off are already down at the EAs getting it on the market quick-like? :(

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Just announced. With a loss of 2400 relatively well-paying jobs, anybody want to guess what's going to happen to house prices in East Kent?

http://www.bbc.co.uk/news/business-12335801

[****, that was not what I wanted my first post to be like...]

This is huge. And really very bad, as pharma is one of the main industries of the future. This does not bode well for the UK long-term future.

And I know the site. It was huge, probably multi-billion pounds - buildings/installations/equipments. What a waste.

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to be at the top, you gotta keep being there...I guess Its cheaper to do research in China with those clever Chinese researchers.

Is Sandwich near Maidstone?

The US and Japanese regulatory authorities, two of the biggest markets, would be unlikely to accept data from China due to a perceived lack of quality. The US authorities might be happy with a bridging study but the Japanese authorities probably not. Traditionally a lot of medical research was done in Taiwan and South Korea as the quality of treatment and data there was thought to be far better than China and cheaper than Japan. Of course things may change as China develops into a major market.

Sandwich is about 30 miles from Maidstone, of course huge numbers of people would want to live in the near Nirvana of Maidstone and commute.

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This is huge. And really very bad, as pharma is one of the main industries of the future. This does not bode well for the UK long-term future.

And I know the site. It was huge, probably multi-billion pounds - buildings/installations/equipments. What a waste.

Huge indeed. I'm originally from Sandwich, and the amount that site has grown over the last 10 -

15 years is ridiculous. 10s of Billions in infrastructure alone I would guess.

It has been in decline for a few years. There is a large new build development just the other side of the river from the town, which is currently half finished. I wonder if that will get finished now?

Manston airport has had a few incarnations over the last few years, operating companies going bust more than once. That will no doubt collapse, never to reopen.

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This is huge. And really very bad, as pharma is one of the main industries of the future. This does not bode well for the UK long-term future.

And I know the site. It was huge, probably multi-billion pounds - buildings/installations/equipments. What a waste.

Glaxosmithkline in Dartford kent are just finishing the shut down of their plant there . In its heyday there were over 4000 well paid jobs at that site now all gone.

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Well we're all in this together you know. However what Camwrong and co really ment is we're all in this together geographically (unless you're a banker or company ceo of course).

Even jobs in the south East will get blitzed in this recession (maybe more so due to such high cost of living). Looks like theres nowhere left to run.

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I worked at Pfizer for a number of years in the late 90s. The site is huge and the biggest employer for 30+ miles in any direction. This will crush house prices in East Kent.

When I first moved there I shared a large detached 5 bed house, with a heated pool and half an acre of land. When we moved out it was on the market for, wait for it, £185,000 (this was 1997). Pfizer were in a huge growth phase and were hiring by the hundred. Subsequently prices shot up, but now this news will have them crashing back to mid 90s prices.

The big problem is that around that neck of the woods - even though it looks fairly close to London on a map - it's a nightmare commute, 2 hours by road or rail.

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