Pfizer recently opened an extension of its highly automated active pharmaceutical ingredient (API) manufacturing facility in Tuas Biomedical Park in Singapore. The 429,000 ft2 expansion cost SGD $1 billion (U.S. $745 million), according to a July 23 news release from the Singapore Economic Development Board. Pfizer has passed final performance qualification checks at the facility…

Pfizer recently announced that it will wind down the construction of an Everett, Washington cancer therapies manufacturing plant that it inherited through its $43 billion acquisition of Seagen last year. Over the summer before the acquisition closure in December 2023, Seagen had inked a $215 million deal with contractor Skanksa  to build the 270,000-square-foot facility,…

Reuters reports that a number of big-name drugmakers, including Pfizer, Sanofi and Takeda plan to raise drug prices to start the year. According to the report, the price hikes apply to more than 500 drugs. Excluding different doses and formulations, the reach extends to more than 140 brands of drugs. Reuters said healthcare research firm 3…

After news emerged regarding Pfizer’s plans to close sites in North Carolina, the company is adding New Jersey to the list. The company expects its Peapack facility to cease operations in early 2024.  A Worker Adjustment and Retraining Notification(WARN) Notice notes that 791 workers could potentially be cut from its Somerset County corporate office. The…

In a strategic initiative to streamline operations, Pfizer said it would close facilities in Durham and Morrisville, North Carolina. The company aims to cut at least $3.5 billion in costs.  The company now employs more than 80,000 people worldwide, with roughly 4,000 based in North Carolina. The closures will not affect Pfizer’s two largest facilities…

Merck & Co. has announced its third quarter results, projectings its full-year 2023 revenue to be in the range of $59.7 billion to $60.2 billion. That’s roughly in line with the guidance from Pfizer, which recently adjusted its revenue forecast from $58 billion to $61 billion.  As Pfizer deals with reduced demand for COVID-19 products,…

Pfizer will price Paxlovid at $1,390 per treatment course when selling directly to health insurers beginning in 2024. That’s about 2.6 times higher than the $529 the federal government paid for the antiviral after it launched in late 2021. Pfizer plans to subsidize copays for commercially insured patients at least through 2028. Pfizer has reduced…

Both Johnson & Johnson and Pfizer are gearing up to release third-quarter results. While J&J continues to display resilience with its diverse portfolio, Pfizer continues to face challenges with waning demand for its COVID-19 therapies. To date, Pfizer’s stock is down by roughly a third so far this year, reflecting concerns over its ability to…

Pfizer has made a strategic decision in the battle against obesity and diabetes. The pharmaceutical giant has chosen to discontinue its GLP-1 RA candidate, lotiglipron, to focus resources on the development of another – danuglipron. This Pfizer weight loss drug is now the lead candidate in late-stage trials for the treatment of obesity and diabetes.…

The pharmaceutical and biotech industries have experienced a surge of high-profile acquisitions and mergers in the first few months of the year, marking a notable trend in pharma M&A 2023. From Merck’s $11 billion acquisition of Prometheus Biosciences to Pfizer’s $43 billion purchase of Seagen, these deals highlight a focus on strengthening core assets and…