Pfizer to invest €520 million in France to tackle COVID-19

On Monday, January 17, 2022, Pfizer Chief Executive Albert Bourla has declared that it will invest in the production facility of its vaccine against the COVID-19 virus in France to tackle the pandemic. The company will spend 520 million euros ($594 million) in the country over the coming five years.

In order to boost the production of anti-viral COVID-19 pills worldwide, the company is making the decision and increasing its investment in various countries.

As per clinical trial data, the pill named paxlovid, which was considered 90 percent effective as it prevented patients who had confirmed with the COVID-19 viral illness to get hospitalized and deaths and also prevented severe infection.

Further, initially, the production of active pharmaceutical ingredients (API) for paxlovid at the plant run by a French pharmaceutical group named Novasep is involved in the investment. Moreover, Pfizer said, the additional Novasep facilities will also be added next year.

The company further added,” The API will be produced by the plant known as Novasep, which is used for the manufacturing network. It is anticipated that it will contribute the overall effort to make around 120 million doses for the treatment of COVOD-19 in 2022″.

In December, the United States drug regulator gave the emergency approval to the drug named Pfizer in an emergency manner due to the sudden surge of the COVID-19 virus. Moreover, the European Union is also assessed for possible authorization of the drug.

Pfizer further informed that they would incorporate Novasep’s plant in Mourenex, in south-west France, in the third quarter of this year. Moreover, the supply chain of the vaccine against the contagious mutant is expected to expand the facilities in 2023.

Moreover, the company also confirmed that the production, which includes the technical transfer, on-site development, and equipment installation activities at the plant, will begin as soon as possible. A total of 40 additional employees will be recruited over the site.

The other sites present in Ireland and Italy are also used for the production of the anti0viral pill, and it is also too early to say anything about it, the company asserted.

A total of 520 million euros will be invested in the research in France, partnerships with biotech firms.