Pfizer halts Everett manufacturing plant construction despite $43B Seagen acquisition

Pfizer has announced the discontinuation of construction on a major manufacturing facility in Everett, Washington, following its $43 billion acquisition of Seagen. This decision affects around 120 employees who were involved in the plant's development, creating uncertainty about their job security. Pfizer clarified that the decision is not a reflection of employee performance but a strategic alignment with production goals. Instead of manufacturing in Everett, Pfizer will produce products at a facility in North Carolina. Seagen had ambitious plans for a substantial presence in Everett, including a 270,000-square-foot facility that was expected to create up to 200 jobs.

This change significantly impacts the local pharmaceutical landscape and the region's economic outlook.