Pfizer names new R&D chief

Pfizer‘s New London-based research division got a new boss today. The pharmaceutical giant named Dr. Martin Mackay as president of global research and development, where he will oversee more than 6,500 employees in Connecticut. Mackay will be in charge of “aggressively” bringing drugs in late-stage research to market. Pfizer’s earnings are falling as sales of its mainstay drugs, such as Lipitor, have faded as much as 25 percent.