In a failed attempt to reach a deal that would have restored its status as the world\u2019s largest pharmaceutical company, biotechnology giant Pfizer Inc. \u2013 whose five-facility La Jolla site specializes in the manufacture of cancer drugs \u2013 has been turned down in what it terms its final offer to acquire AstraZeneca.
\nOn Sunday, May 18, the British pharmaceutical giant rejected Pfizer\u2019s $119 billion offer, potentially saving research posts at the La Jolla facility. “Pfizer has a history of shutting down facilities,” said Raghuran Selvaraju, an analyst with Aegis Capital. “They don’t thin down head count; they shut down an entire facility and pick up their stakes and move away.”
\nAstraZeneca recently rejected Pfizer\u2019s previous cash and stock offer of $106 billion.
\nPfizer’s 25-acre La Jolla campus, on Science Center Drive near the I-5 and Sorrento Valley Highway intersection, includes five buildings totaling more than 500,000 square feet. The company spent $5.7 billion on research and development in 2013, down from $7.48 billion in 2012. Pfizer would not disclose how many people work at the La Jolla facilities or other U.S. research centers.<\/p>","protected":false},"excerpt":{"rendered":"
In a failed attempt to reach a deal that would have restored its status as the world\u2019s largest pharmaceutical company, biotechnology giant Pfizer Inc. \u2013 whose five-facility La Jolla site specializes in the manufacture of cancer drugs \u2013 has been turned down in what it terms its final offer to acquire AstraZeneca. On Sunday, May […]<\/p>","protected":false},"author":726,"featured_media":290239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"11560","_seopress_titles_title":"Final' Pfizer bid to acquire AstraZeneca rejected; La Jolla research jobs remain unaffected","_seopress_titles_desc":"","_seopress_robots_index":"","jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[11560],"tags":[],"class_list":["post-290238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-la-jolla-village-news"],"_links":{"self":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/290238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/users\/726"}],"replies":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/comments?post=290238"}],"version-history":[{"count":0,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/290238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media\/290239"}],"wp:attachment":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media?parent=290238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/categories?post=290238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/tags?post=290238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}