Pfizer pays $372M for La Jolla campus

US drugs giant Pfizer has acquired ownership of its La Jolla, California, pharmaceutical discovery and development campus for a consideration of $372 million. The site, in which Pfizer has invested more than $150 million in improvements and which employs 1,500 scientists and support staff, was previously leased from UK-based Slough Estates. The price paid is much higher than the site's half-year valuation of $275 million, the UK's Financial Times reports Slough Estates' chief executive Ian Coull as saying.