Pfizer plans $470M expansion of R&D facility in Pearl River

Pfizer is planning a major expansion of its research and development facilities in Pearl River, according to company officials.
The pharmaceutical and biotechnology giant will invest $470 million to build a new vaccine R&D building on its existing campus as well as upgrade existing facilities there.
Pearl River is where much of the development of the company's COVID-19 vaccine took place.
Company officials say that given the success of that vaccine, Pfizer (PFE) is aiming to expand mRNA technology for use in other diseases.
The 260,000-square-foot expansion that includes 55,000-square feet of laboratories should be completed in the beginning of 2026.