Drug firm to cut nearly 100 jobs

Research and development is one area where Pfizer has cut spending

Drug maker Pfizer will cut nearly 100 jobs when it closes its research and development sites in Berkshire and Hampshire next year.

Staff were told on Monday that 50 jobs will be axed at its factory in Slough and another 40 in Gosport.

The company said it was restructuring its operations after buying out rival firm Wyeth in January and was reducing the number of its scientists by 15%.

Pfizer's brands include Viagra and cholesterol fighter Lipitor.

The firm said in a statement: "While these changes are expected to bolster productivity and reduce costs, they will result in staff reductions.

"Pfizer is committed to supporting affected colleagues, their families, and the affected communities through this transition."