Pfizer to invest $465 million to build cutting-edge sterile injectable facility

25 July 2018

Pfizer (NYSE: PFE) yesterday committed to increase its US manufacturing, announcing a $465 million investment to build one of themost technically advanced sterile injectable pharmaceutical production facilities in the world in Portage, Michigan.

This US investment will strengthen Pfizer’s capability to produce and supply critical, life-saving injectable medicines for patients around the world, said the pharma giant, whose shares edged up 1.32% to close at $37.70 on Tuesday.

The news comes shortly after Pfizer suspended production at a long-troubled sterile injectables plant in India that the US Food and Drug Administration has twice before cited for manufacturing and testing issues.

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