Pharma giant Pfizer, fresh off its $43 billion acquisition of Seagen, said it will shut down construction on a new 270,000 square-foot manufacturing facility Seagen was building north of Seattle near its headquarters.
- “Pfizer regularly evaluates our manufacturing network to ensure capacity is effectively utilized based on projected product demands,” the company said in a statement to GeekWire. “After careful evaluation, we have made the difficult decision to wind down construction of the site. The products intended to be manufactured at the site will now be manufactured mainly at Pfizer’s Sanford site located in North Carolina, which will have increased capacity with ongoing expansion of the facility.
- Pfizer will lay off about 120 employees as a result of the decision. Puget Sound Business Journal first reported the news.
- Pfizer completed its acquisition of Seagen in December following regulatory scrutiny. The company said it planned to keep Seagen’s operations in the Seattle area and San Francisco.
Previously: How Pfizer’s $43B acquisition of Seagen may impact Seattle and broader biotech market
