Donald Trump yesterday revealed an initiative to bring jobs and investment into the U.S. drug packaging industry, spearheaded by Corning Inc. (NYSE:GLW), Merck (NYSE:MRK) and Pfizer (NYSE:PFE).
At the ‘Made In America’ event, Trump announced that the companies are making a $500 million investment to create 1,000 jobs at manufacturing facilities in New York, New Jersey and an unnamed site in the southeastern region of the country.
Collaboratively, the companies could eventually contribute $4 billion and create nearly 4,000 jobs, according to the president.
Merck, Pfizer and Corning have developed a novel pharmaceutical packaging solution for injectable drugs, called Corning Valor Glass, which reportedly boosts the storage and delivery of modern drug formulations.
“My administration is committed to streamlining the regulatory process so that it’s easier for companies to invest and innovate here in America,” Trump said in prepared remarks. “Today, I’m pleased to recognize Merck, Pfizer, and Corning for collaborating to modernize pharmaceutical glass packaging with Valor Glass and bring important manufacturing jobs to the United States.”
“Merck is proud to have participated from its inception in the development of Valor Glass with Corning. Biologics today are on the leading edge of scientific innovation, and Valor Glass represents a similar advancement in materials science: glass that is purpose-built for medicines and vaccines,” Merck CEO Kenneth Frazier added. “Merck plans to convert several injectable products to this exceptional new glass packaging solution, pending appropriate regulatory approvals.”
“We joined forces with Corning to advance this revolutionary new glass for medicines that are critical to patients,” Pfizer CEO Ian Read said. “Our initial trial results with Valor Glass show promise, and we are working with Corning to assess the full potential of this glass solution on products at several of our manufacturing sites.”
“Making this next-generation product requires a new, advanced manufacturing platform, and we plan to build that platform right here in the United States. All of this is made possible by our great customers like Merck and Pfizer and the strong support of the Administration, the Office of American Innovation, and the FDA’s Emerging Technology Team,” Corning CEO & president Wendell Weeks said. “We believe this is great news for patients, for the industry, and for the economy.”
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