Pfizer to create 250 jobs with investment in Michigan facility producing COVID-19 pill

Shares of Pfizer Inc. rose 0.8% in morning trading Monday, after the drug maker said it will make a $120 million investment at its facility in Kalamazoo, Mich. to support production of its oral COVID-19 treatment, Paxlovid. The company said it believes the investment will create 250 additional jobs at the Kalamazoo facility. “By increasing production at our Michigan facility, we are both helping patients around the world and expanding important manufacturing innovation to the U.S.,” said Chief Executive Albert Boula. The stock has lost 9.2% year to date, to outperform the S&P 500 , which has declined 12.8%.

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