Pfizer to exit Little Island

Pfizer today announces its intention to consolidate active ingredient
manufacturing for key medicines manufactured in Ireland. It proposes that
products manufactured at the Little Island site will relocate to the
Ringaskiddy site during 2014. This is part of
its global efforts to better align manufacturing capacity in response to
reducing volumes following patent expiration of some medicines. No other
sites in Ireland are affected by this announcement today.

“Pfizer has been reviewing its global manufacturing network and capacity in
response to changing global demand as a result of patent expiry of a number
of key medicines and the need to achieve greater efficiencies in our
manufacturing,” said Dr Paul Duffy, Vice President, Pfizer. “Ireland
remains a key strategic location for Pfizer with extensive operations in
Cork, Kildare and Dublin. The proposed relocation of these medicines to
Ringaskiddy is necessary for our Irish operations as we strive to further
enhance our ability to compete even more effectively in a changing global
pharmaceutical market.”

The Little Island site is a leading active ingredient manufacturing
facility and 136 colleagues are employed at the site. It is proposed that
Pfizer will exit the Little Island site in 2014 and will explore
opportunities to divest the site, in conjunction with state investment
agencies. Success would depend on a number of market factors including
demand for pharmaceutical manufacturing facilities.

“This recommendation is not a reflection of performance, it is driven by
the changing business environment. Little Island has an excellent
reputation and has won many awards in the areas of quality, safety,
operational excellence and innovation,” said Seamus Fives, Site Leader,
Little Island and Ringaskiddy sites.

“This is a very difficult time for colleagues affected who deserve
recognition for the great contribution they have made to manufacturing some
of Pfizer’s leading medicines,” he added. “However, patent loss means that
we must now compete with generic equivalents and generic manufacturers.
The manufacturing operating environment has become much more challenging
and greater competitiveness is needed so that we can continue to play a
strong role in the manufacture of Pfizer’s new and off-patent medicines.”

Pfizer employs approximately 3,200 people at six sites in Ireland across
manufacturing, shared services, treasury and commercial operations. Pfizer
has invested $7 billion in operations in Ireland since opening the first
site in 1969 and recently announced a $200 million investment in the Grange
Castle site to develop a new suite to expand the Irish manufacturing
process for an invasive pneumococcal vaccine. Many of Pfizer’s leading
medicines are manufactured for global export from Irish sites.

The proposals set forth in this press release are subject to compliance
with all local legal and regulatory obligations, including the obligation
to inform and/or consult with labour organizations, works councils, trade
unions and employee representatives.

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