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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