According to a report published by Reuters, Pfizer, Inc. (NYSE: PFE) plans to invest €520 million ($594 million) in France during the next five years as part of the company’s strategy to increase the production of its antiviral COVID-19 pill, Paxlovid. The plan includes the addition of a production facility for Paxlovid, which has demonstrated almost 90% efficacy in preventing deaths and hospitalizations among COVID-19 patients. Initially, the pharmaceutical giant will produce an active pharmaceutical ingredient (API) for Paxlovid at the plant, which will be operated by a local biopharmaceutical firm, Novasep.
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