Pfizer Inc is investing US$500 million to expand a manufacturing facility in Sanford, North Carolina, that plays a central role in its efforts to ...
REUTERS: Pfizer Inc is investing US$500 million to expand a manufacturing facility in Sanford, North Carolina, that plays a central role in its efforts to become a major player in gene therapy, the company said on Wednesday.
It is also responsible for making components for some of Pfizer's vaccines, such as Prevenar 13, which had nearly US$6 billion in sales in 2018. Pfizer has been looking to move into innovative and fast- growing therapeutic areas such as oncology and gene therapy in recent years as it prepares for a looming patent cliff on some of its biggest drugs in the mid-2020's.In March, Pfizer agreed to buy gene therapies under development at French biotech Vivet Therapeutics for as much as US$636 million. It has gene therapies under development for diseases including DMD, hemophilia, and Amyotrophic lateral sclerosis .
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