The company first warned of layoffs in October.
BOULDER, Colo. — Biopharmaceutical giant Pfizer says it plans to shutter its Boulder research and development operations by mid-year, eliminating an enterprise that at one point employed nearly 300 people.
The drug company in October told state regulators that it planned to lay off an undisclosed number of people at its Boulder facility at 3200 Walnut St.
Its plans for the site became more clear with a statement issued to news outlets this week.
“As previously communicated, Pfizer started a process in early 2023 to externalize the Boulder Research operations,” the company said in the emailed statement also obtained by the Denver Business Journal. “Although we received some investor interest through this process, we have made the difficult decision to wind down Boulder research operations by the end of Q2 2024.”‘
In earlier statements, the company said it planned to reduce its footprint in Boulder but did not share plans to end operations. New York-based Pfizer (NYSE: PFE) in the new statement said it plans to retain a “site presence” in Boulder for employees who are not affiliated with its research activities.
According to the Pfizer website, the 4.5-acre site in Boulder is comprised of more than 150,000 square feet of research space and brought together nearly 300 employees.
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