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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