Pfizer to cut 200 jobs at Michigan plant that makes Covid products
Pfizer plans to lay off 200 employees at a plant in Kalamazoo, MI, that was the first to ship out the Covid-19 vaccine it developed with BioNTech, citing the dropoff in demand for its Covid products.
The drugmaker recently reset guidance for the year and announced a $3.5 billion cost-cutting plan after the US revised its contract for the antiviral Paxlovid. It told investors in mid-October that it now expects $2 billion fewer sales of its Covid shot, Comirnaty, and $7 billion fewer sales of Paxlovid, partly because of product returns by the government as the market transitions to a commercial one.
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