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By Nathan Peck | MiBiz
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KALAMAZOO — In the wake of Pfizer’s blockbuster acquisition of Wyeth in January, an abandoned anti-venom treatment is finding new opportunities in Kalamazoo.

Pfizer is investing nearly $10 million in two new facilities at the Richland Farm facility, in part to begin production of antivenin, a coral snake anti-venom treatment. Pfizer is investing $6 million to construct a 24,000-square-foot research facility for studying new medicines for horses. Additionally, the pharmaceutical company is investing $3.75 million in an 11,500-square-foot facility for the processing of coral snake antivenin, to treat snakebites in humans. The investment picks up antivenin production that Wyeth had abandoned due to cost concerns in 2003.

Pfizer broke ground on the facilities in late October with construction expected to be completed by summer 2011. A total of six full-time workers eventually will be assigned to the two facilities. The company chose Kalamazoo-based general contractor Deloof Construction Inc. to manage construction at the site.

Wyeth ended coral snake antivenin production in 2003 when it closed its Marietta, Ga. facility. As the facility ended production, Wyeth produced a 5-year supply of antivenin in the expectation that another pharmaceutical company would eventually pick up production. The stock remaining has been in short supply since, and the U.S. Food and Drug Administration has twice extended the expiration dates on the last of those supplies, though those expired Oct. 31.

Encountering a coral snake is rare, as Eastern and Texas coral snakes are responsible for around 25 snake bites each year in the southeastern United States. Their venom, however, is the most lethal among venomous snakes in the U.S. In extreme cases, coral snake venom can cause weakness and paralysis, leading to respiratory problems, and death if left untreated.

The company’s reported net income for the second quarter rose to $2.48 billion, or 31 cents a share, compared to $2.26 billion, or 34 cents a share a year ago. Pfizer reported revenue of $17.33 billion, up from $10.98 billion in 2009. While Wyeth could no longer make the business case for antivenin production in 2003, the economic landscape has shifted significantly since and now presents an opportunity for Pfizer, company spokesman Rick Chambers told MiBiz.

“In 2009, Pfizer acquired Wyeth and begins to look at the company’s existing portfolio and potential portfolio of products. In looking at antivenin, Pfizer started looking at it in a new business light, with a new company,” Chambers said. “We view it as an unmet need and business opportunity. It is a small market. We felt it was an opportunity and an unmet need that we can address.”

The antivenin is produced using blood extracted from horses inoculated against coral snake venom, separating from blood samples the antibodies that neutralize venom from the Eastern and Texas coral snakes. The antivenin will be initially processed at the Richland Farm facility, then finished and packaged at the Portage manufacturing plant.

The investment represents the importance Kalamazoo still plays in Pfizer’s strategic plans going forward, Chambers said. Pfizer’s close ties to hospitals will provide strong access to markets.

“(This is) both an unmet medical need that the new Pfizer is capable (of meeting) and a new business opportunity emerging from the acquisition of Wyeth,” Chambers said. “This investment by Pfizer underscores the important role that our Kalamazoo County site plays in both human and animal health.”