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

0

GOOD

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:5/24/2013)... 2013 Chronic Fatigue Syndrome has been ... with unexplained fatigue lasting 6 months or longer. Symptoms ... and concentration impairment, muscle and joint pain without swelling ... sleep and malaise that lasts for more than 24 ... to be linked to insulin resistance. At a healthy ...
(Date:5/24/2013)... May 24, 2013 DiaperBuys.com is pleased ... Photo Contest. Lindsey Willis of Olathe, Kansas, won the ... from DiaperBuys. Second prize was a three-month supply of ... Las Vegas, Nev.; and third prize, a one-month supply, ... contest was run through the company’s Facebook page. Entrants ...
(Date:5/24/2013)... 2013 Scott Ryan Tischler of Tischler ... lose 200 lbs. of fat in just over a ... younger brother the importance of exercising. Scott also taught ... to these 7 rules of healthy eating and having ... be accomplished. , 1.    Find a distraction when a food ...
(Date:5/23/2013)... Over the past decade, the traditional ... has affected the Medical Group Practice Management industry ... hours, more young physicians are opting out of private ... says IBISWorld industry analyst Anna Son. In addition, “faced ... of older physicians are selling their practices and moving ...
(Date:5/23/2013)... Whether working in an urban setting or a ... an added layer of protection at night. The ... is an effective portable, rugged, rapidly deployable wireless infrared ... and perimeter security. , Today, ARA announces that government ... the past three years, with most systems deployed within ...
Breaking Medicine News(10 mins):Health News:hCGTreatments / Diet Doc hCG Diets & Weight Loss Plans Announces New hCG Diet Plans to Promote Fast Weight Loss Shown to Reduce the Risk & Symptoms of Chronic Fatigue 2Health News:hCGTreatments / Diet Doc hCG Diets & Weight Loss Plans Announces New hCG Diet Plans to Promote Fast Weight Loss Shown to Reduce the Risk & Symptoms of Chronic Fatigue 3Health News:DiaperBuys.com Announces Photo Contest Winners 2Health News:Medical Group Practice Management in the US Industry Market Research Report Now Available from IBISWorld 2Health News:Medical Group Practice Management in the US Industry Market Research Report Now Available from IBISWorld 3Health News:Lighting Up the Night: ARA Announces Record Sales of Its Night VISER System 2Health News:Lighting Up the Night: ARA Announces Record Sales of Its Night VISER System 3
... a prestigious international healthcare and wellness center, will implement the ... Cypress Communications®. , ... Atlanta, GA ... healthcare and wellness center, will implement the C4 IP™ ...
... resident M. Michael Wolfe, MD, chief of the Gastroenterology ... research professor of physiology and biophysics at Boston University ... Top Doctors by Castle Connolly Medical Ltd. , The ... medical care, is a trusted and authoritative resource for ...
... been diagnosed with panic attacks or panic disorder have ... suffering a heart attack than the normal population, with ... published in Europe,s leading cardiology journal, the European ... , The study found that people who were younger ...
... WASHINGTON -- The U.S. Environmental Protection Agency should examine ... cause adverse health effects in humans, says a new ... this analysis, called a cumulative risk assessment, should consider ... effects as phthalates, instead of focusing on chemicals that ...
... prescribed for men with chronic prostatitis, a painful disorder ... significantly reduce symptoms in recently diagnosed men who had ... a clinical trial sponsored by the National Institute of ... the National Institutes of Health (NIH). The study is ...
... people know that how we live our lives effects our ... a healthy lifestyle? Why do health professionals like doctors ... public policy, health services, schools and education, the workplace, the ... support healthier living? For instance, can exercise help with addiction? ...
Cached Medicine News:Health News:MALO CLINIC Avoids Capital Expense and Gains Scalability with Hosted Unified Communications 2Health News:MALO CLINIC Avoids Capital Expense and Gains Scalability with Hosted Unified Communications 3Health News:MALO CLINIC Avoids Capital Expense and Gains Scalability with Hosted Unified Communications 4Health News:Boston University Medical Center gastroenterologist 2Health News:Panic attacks linked to higher risk of heart attacks and heart disease, especially in younger people 2Health News:Panic attacks linked to higher risk of heart attacks and heart disease, especially in younger people 3Health News:EPA should pursue cumulative risk assessment of phthalates and other chemicals 2Health News:EPA should pursue cumulative risk assessment of phthalates and other chemicals 3Health News:Common treatment for chronic prostatitis fails to reduce symptoms 2Health News:New Year starts with focus on healthy living 2Health News:New Year starts with focus on healthy living 3
(Date:5/23/2013)... IRVINE, Calif. , May 23, 2013 ... breast cancer may not benefit from chemotherapy and still ... announced the launch of one of the largest sources ... The new website and interactive Facebook page provide recently ... if they can safely avoid chemotherapy. "We ...
(Date:5/23/2013)... ARBOR, Mich. , May 23, 2013  Every day, ... flow of air to his lungs. April and ... the dire predictions weren,t true. "Quite a few ... the hospital alive," says April Gionfriddo , ... were desperate. Anything that would work, we would take it ...
(Date:5/23/2013)... Mass. , May 23, 2013  Spring Bank ... the treatment of viral infections, today announced that it ... SB 9200, its investigational, once daily, oral therapy for ... in healthy, HCV-infected patients and is designed to assess ... SB 9200 is a first-in-class drug for the treatment ...
Breaking Medicine Technology:Agendia Launches Social Media Campaigns to Help Breast Cancer Patients with Chemotherapy Decisions 2Agendia Launches Social Media Campaigns to Help Breast Cancer Patients with Chemotherapy Decisions 3Baby's life saved with groundbreaking 3D printed device from U-M that restored his breathing 2Baby's life saved with groundbreaking 3D printed device from U-M that restored his breathing 3Baby's life saved with groundbreaking 3D printed device from U-M that restored his breathing 4Spring Bank Pharmaceuticals Initiates a Phase I Clinical Trial for SB 9200 in HCV-infected Patients 2Spring Bank Pharmaceuticals Initiates a Phase I Clinical Trial for SB 9200 in HCV-infected Patients 3
... Sept. 26 Threshold,Pharmaceuticals, Inc. (Nasdaq: THLD ... trial of glufosfamide plus gemcitabine were presented at ... Spain. In the Phase 2 clinical trial ... of advanced pancreatic cancer, six-month and,one-year survival were ...
... Isis,Pharmaceuticals, Inc. (Nasdaq: ISIS ) announced ... (Ibis), has been awarded a subcontract,of a National ... influenza,surveillance research through application of the Ibis T5000(TM) ... Ibis and the Lovelace,Respiratory Research Institute (LRRI) and ...
Cached Medicine Technology:Positive Glufosfamide Results From a Phase 2 Clinical Trial Presented at European Cancer Conference (ECCO) 2Positive Glufosfamide Results From a Phase 2 Clinical Trial Presented at European Cancer Conference (ECCO) 3Positive Glufosfamide Results From a Phase 2 Clinical Trial Presented at European Cancer Conference (ECCO) 4Isis Announces $1.2 Million Award to Its Ibis Subsidiary to Expand Influenza Detection Capabilities and Enable Large-Scale Influenza Transmission Studies 2Isis Announces $1.2 Million Award to Its Ibis Subsidiary to Expand Influenza Detection Capabilities and Enable Large-Scale Influenza Transmission Studies 3Isis Announces $1.2 Million Award to Its Ibis Subsidiary to Expand Influenza Detection Capabilities and Enable Large-Scale Influenza Transmission Studies 4Isis Announces $1.2 Million Award to Its Ibis Subsidiary to Expand Influenza Detection Capabilities and Enable Large-Scale Influenza Transmission Studies 5
... Vision® Plus DR Urology System provides a ... the first dedicated digital urology imaging system ... was designed to use optimized geometry and ... intensifier for maximum anatomical coverage and sharper ...
Drew Scientific has been making leading edge, top quality CBC systems for over 15 years.,The Evolution offers all the features of the Excell 16 with the new addition of primary sample tube cap pier...
... ETS™ is a therapeutic, expandable turning surface ... ,INDICATIONS , Prevention and treatment of ... to turn, Large patients using a statuc ... relief surface, Patients whose body weight and ...
... The Maxxis™ 400 is a bariatric ... safety for individuals in the home care ... 1000 lbs. (or combined weight of 2) ... depending on frame size selected , ...
Medicine Products: