LONDON, Nov 29 (APM) - Pfizer has scrapped most of its plans for a 400 million euros expansion of a plant in Ireland following the recent failure of experimental cholesterol-lowering drug bococizumab.
Earlier this month, Pfizer ended development of the drug because it did not live up to expectations in Phase III (APMMA 50237).
The company sought planning permission earlier this year for a major extension to its Grange Castle plant in Dublin. However, following a decision to discontinue the development of bococizumab, the expansion there will not go ahead. Now Pfizer is scrapping much of the 400 million euros plant expansion in Ireland it was planning to support it.
With the decision not to proceed with the proprotein convertase subtilisin/kexin type 9 inhibitor (PCSK9i) bococizumab, the U.S. pharma is not proceeding with the 371,300-square-foot expansion of its Grange Castle biologicals manufacturing unit, the Irish Times is reporting.
The paper said the company will still carry out a smaller version of the expansion for production of other drugs at the site, where about 1,100 people are employed.
A Pfizer spokesperson is quoted as saying: "Following the decision to discontinue the development of bococizumab, part of the potential expansion for which the planning permission was sought will not now go ahead. Expansion in relation to other incoming products will continue as planned, involving investment, recruitment and new technology."
When Pfizer confirmed last summer that it was contemplating a $423 million expansion of the facility, it said the project would be completed in two phases, adding 200 jobs to Pfizer's Ireland operations with the initial phase and another 100 jobs on completion of the second.
That changed when Pfizer announced that bococizumab "is not likely to provide value to patients, physicians, or shareholders" after data showed its ability to lower LDL-C weakened over time and increased the risk of some adverse events.
It said that "taken together with the evolving treatment and market landscape for lipid-lowering agents," it had decided to discontinue the development programme, including the two ongoing cardiovascular outcome studies.
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