Stock Market News
Pfizer to spend $120 million to boost U.S. COVID pill manufacturing
2022.06.06 18:47
FILE PHOTO: The Pfizer logo is seen at the entrance to Pfizer UK headquarters in Tadworth, Britain, December 2, 2020. REUTERS/Peter Nicholls
(Reuters) – Pfizer Inc (NYSE:PFE) said on Monday it would spend $120 million to expand manufacturing of its COVID-19 antiviral treatment at its Michigan plant, as demand ramps up.
Use of the pill, Paxlovid, authorized to treat newly infected, at-risk people to prevent severe illness, has soared recently as infections rise.
Biden administration officials have pushed for the wider use of Paxlovid, which the government distributes for free.
