Pfizer Brings Therapeutic Innovation to Boston

Research-based pharmaceutical company Pfizer (NYSE: PFE) plans to invest $100 million in Boston over the next five years, in an effort to improve the results of its research efforts. The money will fund a new initiative, the Centers for Therapeutic Innovation.

Through this collaboration, which sees the company team up with local hospitals and academic research institutions, Pfizer hopes to discover new drugs and medicine, as well as increase its efficiency in research and development. The initiative should also allow for new job creation, therefore helping the local community.

“We are thrilled that Pfizer has chosen Boston as the location for its newest Center for Therapeutic Innovation -- which will also serve as the program's world headquarters,” said Mass. Governor Deval Patrick. “Pfizer's decision to increase its investments in Massachusetts is further confirmation of the kind of world-class expertise our state can offer the life sciences industry.”

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