Pfizer stock news
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The gist
Pfizer sold its Everett facility for $78 million and filed a Lyme vaccine in Europe.
The moves signal Pfizer's strategic shift toward vaccines and away from underused manufacturing.
Background
Pfizer acquired Seagen in 2023, which had planned to build a large manufacturing facility in Everett, Washington. In 2024, Pfizer announced it would wind down construction at that site, leaving the property unused. Now, Breakthrough Properties has bought the 270,000-square-foot facility for $78 million and leased it to a biopharma company for 21 years. Separately, Pfizer and Valneva have filed their Lyme disease vaccine candidate with the European Medicines Agency, which has started reviewing it.
How it unfolded
- Apr 2022Seagen announced plans to build the Everett facility for manufacturing medicines.
- 2023Pfizer acquired Seagen.
- 2024Pfizer announced plans to 'wind down construction' at the Everett facility.
- Aug 14, 2026Breakthrough Properties announced it acquired the Everett facility for $78 million and secured a 21-year lease with a global biopharma company.
- Aug 14, 2026Pfizer and Valneva announced that the EMA has started reviewing their Lyme disease vaccine candidate PF-07307405.
Who’s saying what
- Official
- Pfizer's chief vaccines officer Annaliesa Anderson expressed pride in the progress of the Lyme vaccine candidate and excitement about potentially bringing the first vaccine of its kind to Europe.
Still unverified
The identity of the biopharma company that leased the Everett facility has not been disclosed.