Pfizer Inc. (NYSE:PFE) has recently revealed that it is closing two manufacturing plants in Britain. The company has claimed that the move is part of the company’s efforts to restructure its global footprint and in no way a result of Britain deciding to leave the European Union (EU).
Closing Facilities
More than 700 employees will be affected in the shutdown in Britain. Pfizer has reassured that it will facilitate the best possible transition period for these employees.
The facilities include the Hospira UK Compounding factory located in London, which will be shut mid-next-year, and a packaging and distribution site located in Havant will be closed by the end of the decade.
2016 ACR/ARHP Presentation
On Monday, Pfizer also confirmed that it will be presenting 20 abstracts for Xeljanz (tofacitinib citrate), a Janus kinase (JAK) inhibitor, at the 2016 ACR/ARHP meeting, which will begin on Friday and last until Wednesday.
Highlights of the company’s presentations include the first presentation of the results from two Phase 3 Oral Psoriatic Arthritis Trial (OPAL) evaluating Xeljanz, OPAL Broaden and OPAL Beyond. Aside from these, new data evaluating Xeljanz for the treatment of rheumatoid arthritis are highly anticipated as well.
“The extensive data being presented at this year’s ACR/AHRP annual meeting expands upon our knowledge about the role of XELJANZ for the treatment of moderate to severe rheumatoid arthritis and also highlights its potential, if approved, for the treatment of psoriatic arthritis,” boasted Michael Corbo, Pfizer Global Product Development Chief Development Officer of Inflammation and Immunology, about the company’s undying commitment.
In the US, Xeljanz is the first— and currently only — oral JAK inhibitor approved by the US Food and Drug Administration (FDA) for the treatment of patients with moderate-to-severe RA who have shown an inadequate or intolerance response to methotrexate.
Globally, Xeljanz is approved in 50 markets for the treatment of patients with moderate-to-severe RA who have received prior disease-modifying antirheumatic drugs (DMARDs) that eventually failed.
Xeljanz has so far been evaluated in more than 6,000 patients with moderate-to-severe RA. This reiterates the company’s commitment to further understanding the drug’s capabilities in helping RA patients and also expanding its indication.
Pfizer closed at $30 on Tuesday.