Pfiz­er plans to pull out of BIO, fol­low­ing moves by oth­er large drug­mak­ers to re­duce lob­by­ing foot­print

Pfiz­er is plan­ning to leave the Biotech­nol­o­gy In­no­va­tion Or­ga­ni­za­tion, a source fa­mil­iar with the mat­ter con­firmed to End­points News, as it will not re­new its mem­ber­ship when it laps­es.

Pfiz­er and BIO did not re­turn re­quests for com­ment. But the com­pa­ny’s move comes as it em­barks on a multi­bil­lion-dol­lar cost-cut­ting plan af­ter tak­ing a ma­jor rev­enue re­duc­tion due to its Covid prod­ucts this year, with re­duced de­mand over the longer term. Pfiz­er’s de­par­ture plans from BIO were re­port­ed ear­li­er by STAT.

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