Pharmaceutical company closing its Cicero laboratory in July
Thu, 17 Apr 2014 14:44:26 GMT —
An Albany-based pharmaceutical company that's part of a $250 million economic development project in Buffalo is shutting down its Syracuse-area research center, eliminating 45 jobs.
Albany Molecular Research Inc. announced Wednesday that it will close its 12-year-old facility in Cicero on July 15. Some employees will be transferred to Albany, Cedarburg, Wis., England and India.
News of the cost-cutting move comes nearly three weeks after the state-run Empire State Development Corp. voted to approve $50 million in funding for the Buffalo Medical Innovation and Commercialization Hub.
Albany Molecular Research is a partner in the planned $250 million pharmaceutical research and development facility along with Fort Schuyler Management Co., the state College of Nanoscale Science and Engineering, and the Buffalo Niagara Medical Campus.
Plans call for the Buffalo research center to create 250 jobs by 2020.