logo
  

Pfizer To Invest $120 Mln Kalamazoo Facility To Produce COVID-19 Oral Treatment

Pfizer Inc. (PFE) Monday announced it will invest $120 million at its Kalamazoo, Michigan, facility, enabling U.S.-based production in support of its COVID-19 oral treatment, Paxlovidtm.

The investment will expand the production of active pharmaceutical ingredient and registered starting materials used in the manufacture of nirmatrelvir, a novel main protease inhibitor originating in Pfizer's laboratories, which will create more than 250 additional high-skilled jobs at Pfizer's Kalamazoo site.

This investment is another major step in Pfizer's effort to bring more key biopharmaceutical manufacturing to the U.S., increasing Pfizer's capability to produce and supply treatments and medicines for patients in the U.S. and around the world.

"Pfizer Global Supply has made the impossible possible, making billions of vaccine doses and now millions of treatment courses to help battle the deadly COVID-19 pandemic," said Albert Bourla, Chairman and Chief Executive Officer, Pfizer. "By increasing production at our Michigan facility, we are both helping patients around the world and expanding important manufacturing innovation to the U.S. This investment builds upon our $5 billion of investments across our manufacturing and distribution portfolio since 2017 to support the ongoing growth of U.S. manufacturing leadership."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. is planning to hold a launch event on September 7 to unveil its latest iPhone 14 line, Bloomberg reported citing people with knowledge of the matter. The tech major is also expected to roll out its latest version of three Apple Watch models including Series 8. The new products, which also include multiple new versions of Macs, and low and high-end iPads, are likely to reach stores... Home improvement retailer Lowe's Cos., Inc. reported Wednesday an increase in earnings per share for the second quarter that also topped analysts' estimates. However, quarterly sales edged down and missed expectations. The company also reaffirmed its guidance range for the full-year 2022. While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided financial outlook for the third and the fourth quarters as well as slashed its guidance for the full-year 2023. For the third quarter, the company projects earnings in a range...
Follow RTT