REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

Got a Commercial Real Estate Need or Question?


Ask One of Our Trusted Advisors

PRACS Institute plans to shutter San Antonio research center

5109 Medical Drive

Pharmaceutical research company PRACS Institute plans to close its San Antonio operations next month.  The downsizing could cost the Alamo City as many as 100 or more full- and part-time jobs and will negate some of the momentum that San Antonio has generated of late in an effort to grow its role in drug research and development.

The shuttering of the San Antonio facility will come roughly four months after Cetero Research, which conducts clinical pharmaceutical studies, announced that it had closed on the sale of the company to an investor group led by Freeport Financial. The closure will impact diabetes-related research in a state where 8 million people are projected to have the disease by 2040.

PRACS’ San Antonio operations are based in an 80,000-square-foot research building constructed a few years ago at 5109 Medical Drive near Babcock Road in the South Texas Medical Center. The center houses 100 beds, research facilities and an on-site pharmacy.  It’s not immediately clear what will become of the San Antonio facility, which cost more than $20 million to develop a few years ago.

Click to read entire article: PRACS Institute plans to shutter San Antonio research center (San Antonio Business Journal, 9-21-12)

Share

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>