Monday, July 16, 2012
Inc. in 2009, it was clear the pharma's Nutley, N.J., facility had been
underperforming for years. Three years later, the continued poor performance of
the Nutley site made it an obvious target for cost-cutting as the pharma
reorganizes R&D to free up funds for its growing clinical pipeline.
Freeing up capital became more
urgent in May after the Phase III blowup of dalcetrapib, which was supposed to
be a cardiovascular blockbuster.