Navigation Links
U-M Purchase of Former Pfizer Facility Nears Completion, Paving the Way For Research Expansion and Job Creation
Date:5/15/2009

ANN ARBOR, Mich., May 15 /PRNewswire-USNewswire/ -- Within weeks, the University of Michigan will take ownership of a 174-acre research campus that will provide a springboard for new discoveries, job creation and educational opportunity -- and offer a wise investment for U-M's future.

U-M's purchase of the former Pfizer pharmaceutical research facility adjacent to the University's current North Campus will be completed on June 16, said executive vice president and chief financial officer Timothy Slottow at a May 14 U-M Board of Regents meeting in Dearborn.

A due-diligence period will end this coming Monday, May 18, paving the way for the University to purchase the campus and its contents from Pfizer for $108 million. The first U-M offices on the campus may open this fall, and the first laboratories in early 2010.

In all, the purchase will lead to the creation of 2,000 to 3,000 high-quality new jobs in the next decade -- replacing many of those lost in the closure of the facility that had been a pharmaceutical research hub for more than 50 years.

Many of those jobs will come as new scientists and their teams are attracted to Ann Arbor, or as existing research teams add new members. Other jobs will arise from U-M's increased engagement with the private sector, including the potential for existing and startup companies to use space on the new campus.

The purchase will foster immediate expansion of U-M's already robust and rapidly growing research enterprise, which is one of the largest in the United States, approaching $1 billion in annual expenditures.

Buying the Pfizer site will save U-M both time and money over the long term compared with the cost of building new research facilities -- even after renovations and maintenance are accounted for. The campus is especially ideal for the University's growing research activities in health, biomedical scien
'/>"/>

SOURCE University of Michigan Health System
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2

Related medicine news :

1. Sen. Max Baucus: Answer 10 Questions About Mandatory Purchase of Health Insurance Including Why the Public Was Excluded From Todays Committee Meeting
2. Eye Care Centers of America Bonds Purchased
3. Cell Therapeutics, Inc. Announces Single Institutional Investor Purchases $20 Million of Common Stock and Warrants
4. Blue Cross Blue Shield of Michigan Plans to Offer Customer Groups Ability to Purchase Coverage of Autism Treatment Programs that Provide Intensive Early Intervention
5. Organizations Have Federal Government Tax Incentives to Purchase Remstar Automated Systems for 2009
6. $89 Million Proposed Class Action Settlement Provides Consumers and Insurers With Money Back for Celebrex and Bextra Purchases and Reimbursements
7. Christiana Care Health System to Purchase Wind Power
8. All Persons Who Purchased or Acquired the Common Stock of Sunrise Senior Living, Inc. (Sunrise) Between February 26, 2004 and July 28, 2006, Inclusive, and Were Damaged Thereby (The Class)
9. Dialysis Corporation of America Announces Share Repurchase Program
10. Chemed Corporation Purchases a Second Corporate Jet - MMI Investments Demands an End to Chemed Corporate Largesse
11. Aegis Living Completes Purchase of Real Estate in Aptos
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2015)... May 24, 2015 Indiana Fiber Network, ... announces Midwest Telecom of America, Inc. (MTA) has selected ... to Cory Childs, IFN Enterprise Sales Manager, fiber route ... “IFN’s fiber transport provides MTA with the diverse ... their Tier 1 Internet and voice carriers located at ...
(Date:5/24/2015)... May 24, 2015 ... CEO - The students were ... at the fourth annual A Day ... at Geneva National in Lake Geneva. ...     -Badger High School,         Jonathan Alfonso,         Bridget ...
(Date:5/23/2015)... May 23, 2015 On Saturday, May 23, ... new playground for Branches Florida City exactly five years to ... space in 2010. , A large fire tore through the ... May 23, 2010 in the middle of the night as ... was later declared arson even though it is suspected that ...
(Date:5/23/2015)... (PRWEB) May 23, 2015 Dr. David Benvenuti, ... has just posted a new article to his ... As Dr Benvenuti explained in the fascinating blog, ... plugs in their earlobes. , Known as “gauging,” the technique ... hole, which Dr. Benvenuti said will eventually stretch the holes ...
(Date:5/23/2015)... May 23, 2015 On Wednesday, May ... “the company has been the target of a sophisticated ... of the company’s ongoing Information Technology (IT) security efforts ... , The most notable attack on health insurers ... Inc., the nation’s second largest health insurer, revealed that ...
Breaking Medicine News(10 mins):Health News:Indiana Fiber Network, LLC Enables Midwest Telecom of America with Fiber Route Diversity 2Health News:Mercy Foundation Honors 16 Students for Making a Difference - Mercy Health System Javon Bea 2Health News:Five Years After Fire, Branches Rebuilds Playground 2Health News:Dr. Benvenuti, a Plastic Surgeon in Newport Beach, CA, Posts New Article about Repairing Ear Gauges 2Health News:One Headline Making Cyber Attack Sparks Discovery of Another 2Health News:One Headline Making Cyber Attack Sparks Discovery of Another 3Health News:One Headline Making Cyber Attack Sparks Discovery of Another 4
... ... offers a special fall discount of 15% off on all items, and a new and ... , ... It seems that everyone needs medicinal aid nowadays, some are planning to go on a ...
... ... Dishler Laser Institute announced today that Dr. Jon Dishler has been selected ... the United States for 2009. The list of leading Laser Eye Surgeons ... of Forbes Magazine.,Internationally recognized, leader of numerous FDA laser vision trials, and ...
... for the first time, that when the concentrations of ... their sons are less likely to play with male-typical ... The University of Rochester Medical Center-led study is ... Because testosterone produces the masculine brain, researchers are ...
... or Niaspan , SUNDAY, Nov. 15 (HealthDay News) -- ... a drug used by millions of Americans in tandem ... The trial, known as ARBITER-6 HALTS, was stopped early ... was less effective than extended-release niacin (Niaspan), which raises ...
... ... registration process in Brazil and Colombia for its over-the-counter pain reliever. The company is ... moderate to severe (Stage 2) chronic pain. , ... Plantation, FL (Vocus) November 15, 2009 -- Nutra Pharma ...
... nose right away seems to prevent brain damage, study ... cooling of heart attack patients may boost their ... , They examined the use of a device called ... during ongoing cardiopulmonary resuscitation (CPR). RhinoChill is a non-invasive ...
Cached Medicine News:Health News:PharmaShack.com Embraces Fall - Offers 15 Percent Off of All Meds on Site 2Health News:Dishler Laser Institute Announces Dr. Jon Dishler Selected as a Leading Laser Eye Surgeon of the United States, as Seen in Forbes Magazine 2Health News:Dishler Laser Institute Announces Dr. Jon Dishler Selected as a Leading Laser Eye Surgeon of the United States, as Seen in Forbes Magazine 3Health News:Pilot study relates phthalate exposure to less-masculine play by boys 2Health News:Pilot study relates phthalate exposure to less-masculine play by boys 3Health News:New Study Raises New Questions About Cholesterol Drug Zetia 2Health News:New Study Raises New Questions About Cholesterol Drug Zetia 3Health News:Nutra Pharma Announces Plans to Begin Drug Registration Process in South America for its Over-the-Counter Pain Reliever 2Health News:Nutra Pharma Announces Plans to Begin Drug Registration Process in South America for its Over-the-Counter Pain Reliever 3Health News:Nutra Pharma Announces Plans to Begin Drug Registration Process in South America for its Over-the-Counter Pain Reliever 4Health News:Rapid Cooling Might Help Heart Attack Patients 2
(Date:5/22/2015)... N.C. , May 22, 2015  Effective ... to pharmaceutical brand recognition and success. ... conducted a study to provide pharmaceutical and biotech ... investment (FTEs and budget) that are being channeled ... and biotech marketing managers can utilize this report ...
(Date:5/22/2015)... The North American dental lasers market ... to reach $90.7 million by 2019, at a CAGR of ... TOC of North America Dental Lasers Market for an analysis ... tables and figures. http://www.micromarketmonitor.com/market/north-america-dental-lasers-1771208223.html ...   Dental lasers are specifically used in ...
(Date:5/22/2015)...  The Mesothelioma Victims Center is incredibly passionate ... the best possible compensation, and they are also extremely ... cancer caused by exposure to asbestos or their ... treatment options such as a recent possible medical breakthrough. ... Center anytime at 866-714-6466. http://MesotheliomaVictimsCenter.Com ...
Breaking Medicine Technology:Effective Marketing Services Group Critical for Pharmaceutical Brand Recognition 2North America Dental Lasers Market is Expected to Reach $90.7 Million by 2019, at a CAGR of 9.2% From 2014 to 2019 2North America Dental Lasers Market is Expected to Reach $90.7 Million by 2019, at a CAGR of 9.2% From 2014 to 2019 3Mesothelioma Victims Center Calls Attention to a Recent Medical Article About a New Drug That Could Slow the Progression of Mesothelioma and Allow People to Live Longer 2Mesothelioma Victims Center Calls Attention to a Recent Medical Article About a New Drug That Could Slow the Progression of Mesothelioma and Allow People to Live Longer 3Mesothelioma Victims Center Calls Attention to a Recent Medical Article About a New Drug That Could Slow the Progression of Mesothelioma and Allow People to Live Longer 4Mesothelioma Victims Center Calls Attention to a Recent Medical Article About a New Drug That Could Slow the Progression of Mesothelioma and Allow People to Live Longer 5
... HILL, N.C., US, March 06, 2007,/PRNewswire/ -- ... Inc. ("Lantibio") today announced positive final results,from ... of Moli1901, an experimental compound to treat ... AOP Orphan in,Europe under a licensing and ...
... BioLineRx Ltd.,(TASE:BLRX), Israel's leading drug development company, ... demonstrating that,BL-1040 is effective in preventing deterioration ... thereby reducing left ventricle,dilatation and eventual heart ... MD, Director of the Neufeld Cardiac Research,Institute ...
Cached Medicine Technology:AOP Orphan Pharmaceuticals and Lantibio Announce Positive Phase II,Study with Novel Cystic Fibrosis Therapy 2AOP Orphan Pharmaceuticals and Lantibio Announce Positive Phase II,Study with Novel Cystic Fibrosis Therapy 3AOP Orphan Pharmaceuticals and Lantibio Announce Positive Phase II,Study with Novel Cystic Fibrosis Therapy 4BioLineRx Presents Data on BL-1040 at Cardiovascular,Revascularization Therapies Conference Demonstrating Potential to,Reduce Deterioration of Infarcted Heart Tissue and Maintain,Functionality 2BioLineRx Presents Data on BL-1040 at Cardiovascular,Revascularization Therapies Conference Demonstrating Potential to,Reduce Deterioration of Infarcted Heart Tissue and Maintain,Functionality 3
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... Laboratories is a national reference laboratory and ... and development. ARUP offers an extensive test ... tests in clinical and anatomic pathology. Owned ... clients include more than half of the ...
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
Medicine Products: