✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Pfizer restarts production at tornado-hit North Carolina plant

Published 09/25/2023, 02:23 PM
Updated 09/25/2023, 02:28 PM
© Reuters. FILE PHOTO: Pfizer logo is seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
PFE
-

(Reuters) - Pfizer (NYSE:PFE) said on Monday it has restarted majority of the production lines at its tornado-hit North Carolina plant, but warned that supply of some drugs from the facility may not be fully restored until at least the middle of next year.

The company's Rocky Mount plant, one of the world's largest sterile injectable drug facilities, was struck by a tornado on July 19 and Pfizer had then warned that some drugs, including painkiller fentanyl, could see supply disruptions.

While Pfizer said on Monday that it expects production to restart fully at the facility by the end of the year, it warned that supply of medicines from the site would be affected until at least mid-2024.

Last month, the company had said it expects to restart production at the plant by the beginning of the fourth quarter.

Pfizer has restarted production of about 13 medicines, including those which are currently available through the company's emergency ordering process, and expects first shipments in the fourth quarter.

The company said it has added a new production line for sterile injectable drugs as part of the restart. The manufacturing line was approved earlier by the U.S. Food and Drug Administration.

© Reuters. FILE PHOTO: Pfizer logo is seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

The drugmaker's sterile injectable products include anesthesia, painkillers and anti-infective medicines for use in hospitals.

Pfizer estimates that medicines made at the Rocky Mount facility account for about 25% of its sterile injectables used in U.S. hospitals, or about 8% of the total U.S. hospital supply.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.