The American multinational pharmaceutical corporation Pfizer Inc. (PFE.N) announced on Friday that it will subscribe to contractors outside the company for it production. It is in preparation for a large-scale production of the experimental COVID-19 vaccine, provided it proves effective in curing the deadly coronavirus.
According to an interview conducted by Reuters, the President of Pfizer Global Supply Mike McDermott said that the company is working with its network of 200 contract manufacturers including, Catalent Inc (CTLT.N), Lonza Group AG (LONN.S), and Thermo Fisher Scientific Inc (TMO.N). These outside contractors will produce some of its existing medicines which have high demand in the global market.
However, Pfizer didn’t disclose which companies are in advanced talks for outsourcing production. It will allow Pfizer to shift a portion of its production to four of its existing vaccine manufacturing factories. Pfizer plans to do bulk production in its largest plants in the United States to prevent supply disruption on other products.
“They have been hugely helpful in the past and will help us through this,” McDermott stated.