Pfizer Invests $500 Million in Gene Therapy Manufacturing Plant
- Company bolsters program for one-time rare-disease treatments
- New investment to add 300 jobs to North Carolina facility
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Pfizer Inc. said it plans to spend $500 million to expand a gene-therapy manufacturing facility in Sanford, North Carolina, helping the drug giant scale up production of treatments that fix faulty strands of DNA.
New York-based Pfizer is trying to increase its presence in the growing field of genetic therapies, which can offer transformative treatments to patients suffering from once-incurable diseases, though often at a very high price. Through various acquisitions and partnerships, Pfizer has begun three clinical gene-therapy programs, including one that targets a deadly childhood disease called Duchenne muscular dystrophy. It also has 10 preclinical programs.