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Pfizer Closes Peptide Drug R&D Unit CovX

by Lisa M. Jarvis
February 25, 2013 | A version of this story appeared in Volume 91, Issue 8

In a move that has cost roughly 100 jobs, Pfizer has closed its San Diego-based CovX research unit, which was focused on peptide therapeutics development. CovX was founded in 2002 based on technology discovered at Scripps Research Institute in California that enables the development of long-acting, bivalent biopharmaceuticals. Pfizer bought CovX in 2007 but allowed it to retain a large degree of autonomy. In a statement, Pfizer says the closure does not affect its overall investment in R&D but rather how its research money is spent.

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