Pharmaceutical giant Pfizer suffered a major loss Wednesday afternoon when a tornado ripped through its Rocky Mount facility in North Carolina. The Nash County complex was devastated and a critical supply of medicines was destroyed.
Pfizer was at the forefront of the push to force the public to submit to the COVID-19 vaccine. It drew the ire of many defenders of individual rights even as company revenue soared to $100 billion in 2022. It produced some 64% of the COVID vaccines distributed in the U.S.
Besides damage done to the controversial manufacturer, many homes in the area were also affected.
According to Nash County Sheriff Keith Stone, 50,000 pallets of medicine “are strewn across the facility and damaged through the rain and the wind.” Apparently there were no significant injuries.
A statement from Pfizer said the company is “assessing the situation to determine the impact on production.”
Its website described the Rocky Mount site as “one of the largest sterile injectable facilities in the world.” The massive location covers 250 acres and boasts over 1.4 million square feet of space for pharmaceutical manufacturing.
“Nature works mysterious ways…” : A tornado has destroyed the Pfizer pharmaceutical plant in North Carolina. pic.twitter.com/1mMuTws4JP
— VeBee🇺🇸✝️ (@VeBo1991) July 19, 2023
The operation employs more than 4,500 workers.
The plant provides almost 30% of the supply of sterile injectables for U.S. hospitals. It also reportedly produces anti-infectives and neuromuscular blockers along with vials and syringes.
The damaged facility manufactures over 400 million units that are distributed around the world.
Pfizer has been at the center of controversy over its role in the COVID-19 pandemic. Out of its record $100 billion revenue for 2022, a full $37.8 billion came from its sales of the vaccine.
Many accused the company of profiteering as the world struggled to deal with the global pandemic. The future of Pfizer is not expected to be so bright.
The company told investors earlier this year to expect revenue to decline by as much as 33% to between $67 billion and $71 billion. This is primarily due to the end of the pandemic and slowing demand for COVID drugs.
The vaccines are anticipated to plunge by 64% in 2023, and per-share earnings may decline by as much as 50%.