Skip to content
Business
Prognosis

Pfizer Invests $470 Million to Develop Tech Behind Covid Shot

The drugmaker will build a new facility 25 miles northwest of New York City, where it hopes to command the hot field of messenger RNA. 

A scientist at the Pfizer vaccine research and development facility in Pearl River, New York.
A scientist at the Pfizer vaccine research and development facility in Pearl River, New York.Photographer: Amir Hamja/Bloomberg
Corrected

Pfizer Inc. will spend $470 million to expand its vaccine research facilities 25 miles northwest of New York City, where the company hopes to maintain its edge in the booming field of messenger RNA, the technology behind its blockbuster Covid-19 shot. 

The drugmaker will construct a new building and renovate existing facilities on its campus in Pearl River, New York, which has been the nexus of laboratory research driving its vaccine programs, including the one for Covid in partnership with BioNTech SE.