Oct. 16 (Bloomberg) -- Pfizer Inc. will close Wyeth operations in Pennsylvania and New Jersey and decide what research sites to shut in the next 30 to 60 days, said Chief Financial Officer Frank D’Amelio.

Pfizer will keep open Wyeth’s Madison, New Jersey, corporate headquarters and close two buildings near its main pharmaceutical center in Collegeville, Pennsylvania, D’Amelio said today in a telephone interview. New York- based Pfizer will decide what manufacturing sites to close in the next six months, he said.

The drugmaker is reviewing all its research and manufacturing, including the main laboratories in Connecticut. Pfizer, which completed its $68 billion acquisition of Wyeth yesterday, had said in January when the deal was announced that it planned to eliminate 19,000 positions, or 15 percent of the combined company’s workforce. Those cuts have already started, said D’Amelio, who didn’t give exact numbers.

“We are hitting the ground running,” D’Amelio said. “It is ‘heads down’ on operational execution and meeting all the commitments we said we were going to meet.”

Pfizer shares rose 9 cents, or less than a percent, to $17.75 at 11:28 a.m. in New York Stock Exchange composite trading. The shares have gained 4.7 percent of their value in the past 12 months.

Holding Meetings

Pfizer began holding meetings throughout the company at 2 a.m. New York time with employees in Asia, D’Amelio said. Pfizer has more meetings planned throughout the day and tomorrow with workers, he said.

In Pennsylvania, Pfizer will close buildings at 200 and 400 Campus Drive in Collegeville, where Wyeth’s pharmaceutical operations are based, and its Great Valley facility. In New Jersey, Pfizer will shut the Wyeth Bridgewater operations.

Pfizer cut 5,400 jobs in the first half of the year, leaving it with 76,500 employees. Wyeth also has been scaling back its number of workers, D’Amelio said.

Pfizer’s board will meet in December to discuss the company’s dividend, which was halved in January to help finance the acquisition.

“We understand the importance of the dividend,” D’Amelio said.

To contact the reporter responsible for this story: Shannon Pettypiece at spettypiece@bloomberg.net.

Last Updated: October 16, 2009 11:41 EDT