The planned move out will be on mid-2013.
According to a BT article, Pfizer, the world's largest drugmaker, will close its clinical research unit at Raffles Hospital mid-way through its 10-year lease.
Singapore’s Pfizer Clinical Research Unit (PCRU) is one of three Phase I clinical research facilities operated by Pfizer globally. It was established in 2000 at Singapore General Hospital, initially with 31 beds.
With increasing demand for more trials covering different therapeutic areas to be conducted in Singapore, the facility expanded in June 2007 with 48 beds at Raffles Hospital.
In 2009, PCRU conducted nearly half of the total number of Phase I clinical trials in Singapore.
Besides Singapore, Pfizer has two other Phase I Clinical Research Units (CRU) located in Brussels, Belgium and New Haven, Connecticut, USA.
Read the full story here.
More From Singapore Business Review