Esperion is being closed and its 70 employees will lose their jobs or move to other Pfizer labs.
In the past year Pfizer has closed six labs, including the Michigan outpost where Lipitor was invented.
Pfizer acquired Brazilian generic labs Teuto last year.
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Today, at Pfizer's research presentation at its labs in Groton, Conn.
Never mind that a bidding war will inevitably result in an overpriced Biogen--current Pfizer shareholders might do just as well if Pfizer delivers a few upside surprises from its own labs.
He said Pfizer had left behind a large amount of fixed equipment in the labs.
Pfizer has seen its stock under-perform some of its peers like Abbott Labs and Merck as the company continues to struggle with various lawsuits and complaints.
FORBES: Pfizer Is Worth $25 Despite Lawsuits And Lipitor Patent Expiry
In the future, Pfizer hopes to be launching six products a year--including four developed in its own labs.
Pfizer is just coming off of a big effort to pare its research effort, creating more organized labs.
Helped by recent news of a weak economy and record low interest rates, the stocks of major pharmaceutical companies like Abbott Labs (NYSE:ABT), Lilly Eli (NYSE:LLY), Pfizer (NYSE:PFE), Merck (NYSE:MRK), and Bristol Myers Squibb traded near 52-week highs this morning.
Today, at Pfizer's (nyse: PFE - news - people ) research presentation at its labs in Groton, Conn.
In the past four years, AstraZeneca ( AZN), Pfizer ( PFE), Eli Lilly ( LLY), Bristol-Myers Squibb ( BMY) and Forest Labs ( FRX) have all settled federal charges of marketing psychoactive drugs off-label, at a cost running into hundreds of millions.
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