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[The Rainmaker]

Pfizer Sets $500 Million Gene-Therapy Expansion in Sanford, N.C.

Source: Dow Jones News

By Colin Kellaher

Pfizer Inc. (PFE) on Wednesday said it will invest roughly $500 million to build a gene-therapy manufacturing facility at its campus in Sanford, N.C.

The New York drugmaker said the expansion will add about 300 new jobs in Sanford, where it already employs 650 people.

Pfizer said the expansion will boost its ability to produce and supply clinical- and commercial-scale quantities of gene-therapy medicines.

Write to Colin Kellaher at [e-mail]