Pharmaceutical giant Pfizer Inc., based in New York City, has halted its $350 million manufacturing plant project in Everett. This marks a shift in the company’s expansion strategy following its acquisition of Bothell-based Seagen for $43 billion.
According to the Puget Sound Business Journal, the Everett facility at 215 Shuksan Way was originally intended to enhance Pfizer’s manufacturing capabilities. However, Seagen – a global biotechnology company specializing in cancer treatments – signed a lease for the 269,097-square-foot facility and Pfizer had announced plans to construct a medical production plant on site.
The operations and therapeutic products that were planned for production at this location will now be relocated to an existing facility in Sanford, North Carolina. As a result of this decision, approximately 120 employees will be laid off. In their statement addressing this development, Pfizer clarified that it is not reflective of their colleagues’ performance but rather aligns with their site capacity design to meet business needs.
This news comes from Connect CRE as part of our coverage on commercial real estate developments across various regions.
