Fears that the drug giant Pfizer might close its San Diego research facility have been put to rest.
Last month Pfizer completed a $68 billion acquisition of Wyeth Pharmaceuticals. The merger was expected to result in the loss of 19,000 jobs. The company has announced it would close six of its 20 research facilities, but the San Diego facility was not one of them.
Pfizer employs 1,000 people at its San Diego location, which has focused on research into cancer, vaccines and ophthalmology. Not only will the San Diego location remain open, it's been identified as one of five major research hubs for Pfizer.
The announcement got the attention of Governor Arnold Schwarzenegger. He called the decision by Pfizer to keep open its San Diego facility "great news" for the state.
