NORWICH – Citing “changes” in an “evolving” industry, Procter & Gamble Pharmaceuticals announced Thursday that the company’s Woods Corners facility in Norwich will be officially closed by December 2009.

The facility currently employees around 160. Of that number, company representatives say 120 will have the opportunity to relocate to P&G’s headquarters in Mason, Ohio over the next two years, leaving 40 positions to be eliminated.

“This was a particularly difficult decision given our long heritage and personal ties to Norwich,” said P&G’s President of Global Health Care, Tom Finn, in a prepared statement Thursday. “The 1982 acquisition of Norwich Eaton was the cornerstone of P&G’s building a vibrant pharmaceuticals business and I personally spent the first 10 years of my career in Norwich. We deeply appreciate the impact this decision has on our employees and the community. However, the pharmaceutical industry has changed a lot in the past 25 years and we also need to continue to evolve to remain viable and to sustain our business.”

P&G says it will out-source the chemical research and development work conducted at Woods Corners to an “undisclosed global fine chemicals company.” Officials claim the move will enable the company to “compete more effectively in the evolving pharmaceutical environment.”

P&G announced plans of the out-source earlier this year. It would not reveal the identity of the global out-sourcing company based on a “contractual agreement.”