Henry Raymond

Fairfax News => Current News & Events => Topic started by: Henry on January 26, 2009, 08:40:57 AM

Title: Drugmaker Pfizer To Buy Wyeth - How Will That Effect Georgia, Vt
Post by: Henry on January 26, 2009, 08:40:57 AM

Drugmaker Pfizer To Buy Wyeth For $68B

Pfizer Also Plans To Cut Its Work Force

Pfizer makes Lipitor & Viagra - I think the Georgia, Vt Plant makes Baby Formula - We also have quite a few local people, or at least used to have working at the Georgia Plant.  Don't know how many they employ.

http://www.wptz.com/money/18562975/detail.html (http://www.wptz.com/money/18562975/detail.html)

Title: Re: Drugmaker Pfizer To Buy Wyeth - How Will That Effect Georgia, Vt
Post by: JoeT on January 26, 2009, 09:15:17 AM

That plant in Georgia, VT was sold several years ago, now owned and run by PBM Products.

Joe

Title: Re: Drugmaker Pfizer To Buy Wyeth - How Will That Effect Georgia, Vt
Post by: Henry on January 26, 2009, 09:31:36 AM

Thanks Joe - Haven't been down that road in a while - When I heard Wyeth, I thought, maybe good news.

Title: Re: Drugmaker Pfizer To Buy Wyeth - How Will That Effect Georgia, Vt
Post by: cedarman on January 26, 2009, 02:20:41 PM

The Wyeth run facility in Rouses Point still employs several people in the area (myself included).  We are transitioning to a small, start-up company - Akrimax (founded in part by a former Mylan employee), and will not be part of the "potential" Pfizer deal.  Keep in mind, that deal is not final - it is just at a stage where the boards for each company have reached a deal which will make them all very wealthy.  It will still need government approval, and stock holder approval (which usually happens because those who will benefit most, hold the most in the companies).
As for me, I'm happy with the potential for new opportunities that come with this new company.  A chance to grow and build something new.