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news.Pfizer and the US-based Massachusetts Institute of Technology (MIT) have joined forced to open a new location of Pfizer's Cardiovascular, Metabolic and Endocrine Diseases (CVMED) and Neuroscience research units in Cambridge, Massachusetts.
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Pfizer had entered into a 10-year lease agreement with MIT for over 180,000ft2 in September 2011.
Pfizer has planned to switch its research and development, to lay more emphasis on smaller number of research areas including its CVMED and Neuroscience research units.
The company therefore intends to open these two important research units in Cambridge, Massachusetts.
Pfizer Worldwide R&D president Mikael Dolsten said moving to Cambridge, MA was a major part of their research and development strategy which would bolster their drug discovery efforts.
"This is a very exciting period in Pfizer research and development during a time of great change while we strengthen our innovative core with the goal of delivering the best medicines to patients," Dolsten added.