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Business

Pfizer Cuts Jobs, GSK Invests In Montreal

by Lisa M. Jarvis
November 5, 2012 | A version of this story appeared in Volume 90, Issue 45
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Pfizer is shedding some 300 jobs, primarily in sales and marketing, across Canada. Pfizer’s Canadian headquarters in a suburb of Montreal will bear the brunt of the layoffs, adding to earlier cutbacks in the region by Boehringer Ingelheim, AstraZeneca, Johnson & Johnson, and Merck & Co. In positive news for the region, Thrasos Therapeutics has secured $35 million in a new round of financing led by GlaxoSmithKline’s venture capital arm, SR One. The funds will be used to support the development of THR-184, a small molecule for the treatment of acute kidney injury.

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