Pfizer's Cork chief Seamus Fives: Cutting costs is key

Pfizer will need to reduce the cost of producing some of its core products by up to 20% and stay extremely focused on competitiveness in the coming years, according to the head of its Cork operations.

Seamus Fives, who heads the Pfizer plant in Cork, which includes responsibility for two of the pharma giant’s facilities at Little Island and Ringaskiddy, said that the business would have to redouble its efforts to keep costs in check after having cut production costs of key drugs by 34% in recent years.

Staff at the two Cork sites have “stopped the rot”, which had, at one stage in 2012, threatened the closure of the Little Island plant, but more must be done to remain competitive, Mr Fives said.