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Pfizer Raises Gene Therapy Stake with 500M Dollars Sanford, NC, Expansion

August 22, 2019 / GEN

Pfizer will expand its manufacturing of gene therapies in North Carolina, where the pharma giant joined Gov. Roy Cooper in announcing plans for a 500 million dollars facility expansion in Sanford that is expected to add 300 jobs to its local workforce of 650. The planned expansion which will grow its Sanford workforce by nearly 50 Percent comes three years to the month that Pfizer expanded into gene therapy by acquiring Bamboo Therapeutics for up to 645 million dollars. The following year, Pfizer raised its proverbial bet on gene therapy with a $100 million, 40-job expansion to the company’s vaccine manufacturing plant in Sanford. “Our purpose is to deliver breakthroughs that change patients’ lives. And expanding these end-to-end capabilities that we have here in Sanford in gene therapy is exactly how we are going to make this happen,” Angela Hwang, Group President, Pfizer Biopharmaceuticals Group, said yesterday at a ceremony at the Sanford facility, according ...