2010 Top stories: Pfizer sells NL headquarters to Electric Boat
The saga of Pfizer Inc.'s brief foray into New London came to a bittersweet conclusion in July with the sale to Electric Boat of the pharmaceutical giant's former research-and-development headquarters off Pequot Avenue.
The submarine builder paid $55 million for the complex that Pfizer built for almost $300 million just nine years before.
Pfizer won a 10-year tax abatement when it built the three-tower complex, but also received a raft of bad publicity because of the project's association with eminent domain and the infamous Supreme Court decision in Kelo v. City of New London.
With pharmaceutical sales lagging and no blockbuster medicines on the horizon, Pfizer was forced to sell the offices.
Pfizer officials said scientists working in New London would be consolidated into the company's Groton campus by the end of next year, so the sale would not affect local employment.
- Lee Howard
Stories that may interest you
U.S. Rep. Joe Courtney, D-2nd District, revisited some of the bills he discussed at a Chamber of Commerce of Eastern Connecticut event in June.
Two U.N. human rights experts say the cellphone of Amazon founder and Washington Post owner Jeff Bezos was hacked in what appears to be an attempt by Saudi Arabia's crown prince to "influence, if not silence" the newspaper's reporting on the kingdom
Chris Kelley, president and chief operating officer at MGM Northfield Park in Ohio, will assume the same role at MGM Springfield, replacing Mike Mathis.