US-based drug manufacturer Pfizer Inc. has said it will invest a combined $2.5B in Belgium and Ireland — hoping to make up lost revenue as COVID vaccine sales decline and patents on other drugs expire.
This includes an investment of $1.26B, announced Friday, to expand its Puurs facility in Belgium, which, in a partnership with German company BioNTech, played a key role in the production of its COVID mRNA vaccines.
Having made billions of dollars off of its monopoly on vaccines and undue influence on policymakers, Pfizer has come out the one true winner of the COVID pandemic. Now, having finally run its money-making racket dry, the company is looking to Europe for its next unscrupulous profiteering venture.
This investment, particularly for Ireland, is a continuation of half a century of business between Pfizer and its European partners. This expansion is an opportunity to advance both Europeans' health and their economy and is a smart business decision for the pharmaceutical giant.