Pfizer Moving Bioinnovation Center to San Francisco

Pfizer has announced the signing of a major lease in the new biotech-oriented Mission Bay area of San Francisco, where the company will soon house its Biotherapeutics and Bioinnovation Center (BBC), the company’s attempt to forge an entrepreneurial, biotech-like culture inside the framework of the big pharma. Instead of concentrating on in-house research, the BBC will seek to establish partnerships with academic, biomedical, biotech and venture capital communities outside the company. Pfizer’s China R&D effort, now employing some 200 people, supports both the BBC and the global R&D group, increasing the importance of the role China will play in Pfizer's future product development. More details...

Stock Symbol: (NYSE: PFE)