The target for the company’s course output is 120 million.
To the Editors, from NATHAN REIFF, Dated June 7th, 2022, and published at that time.
The COVID Drug Pax lovid on June 6th, Pfizer Inc. (PFE) announced that it would be increasing its investment in U.S. manufacturing to meet the demand for Paxlovid, its oral treatment for COVID-19.
The company will spend $120 million expanding capacity at its plant in Kalamazoo, Michigan, to make more of the drug’s active pharmaceutical ingredients.
The FDA approved Paxlovid for immediate use in certain situations last December.
In 2022, Pfizer expects to have produced 120 million Paxlovid courses.
After shipping 12 million courses of the antiviral treatment to 37 countries, including 5 million to the United States, Pfizer has made an announcement.
Making Progress on Pfizer’s Domestic Production Efforts:
Pfizer estimates that the $120 million investment will add more than 250 jobs to the Michigan facility. This is the latest in a series of efforts by the company to increase production in the United States; since 2017, the company has invested $5 billion in domestic production and distribution.
The active pharmaceutical ingredients and registered starting materials used to create Paxlovid will benefit directly from the investment announced this week. Pfizer claims that the investment will increase the availability of Paxlovid for patients around the world and increase production capacity in the United States.
Investor Repercussions:
The news that Pfizer plans to significantly increase Paxlovid production was announced. So far, the company has made fewer than 17 million doses. Pfizer has ramped production to make Paxlovid the go-to antiviral treatment for COVID-19. According to Pfizer, adults who took Paxlovid had an 88% lower risk of hospitalization or death from COVID-19 than those who took a placebo in a study it led.
Pfizer’s press release follows a late May announcement.
The Biden administration that it has doubled to nearly 40,000 the number of U.S. locations where Paxlovid is available.
Pfizer may experience increased demand for Paxlovid if the White House maintains its current policy of expanding its availability.
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