Drug maker Pfizer Inc. (NYSE: PFE) said Wednesday it would shutter its Boulder production facility at 4876 Sterling Drive, eliminating 100 jobs.
Pfizer, which acquired the facility last year when it purchased Hospira Inc., said it had determined, in an analysis, that the facility was being underutilized, said Pfizer spokeswoman Joan Campion.
Campion said the shutdown of the 50,000-square-foot facility, which Hospira acquired in 2007, would occur gradually and would be complete by 2019.
Pfizer, which employs about 97,000 people worldwide, said this year that it expected to shave $1 billion in costs as it integrated Hospira into its operations.
Eric Dienstbach, a commercial real estate broker who specializes in the medical and bioscience market, said the industry is in flux, with major companies consolidating and closing facilities, even as they expand others.
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