Both Johnson & Johnson and Pfizer are gearing up to release third-quarter results. While J&J continues to display resilience with its diverse portfolio, Pfizer continues to face challenges with waning demand for its COVID-19 therapies. To date, Pfizer’s stock is down by roughly a third so far this year, reflecting concerns over its ability to…

Pfizer has made a strategic decision in the battle against obesity and diabetes. The pharmaceutical giant has chosen to discontinue its GLP-1 RA candidate, lotiglipron, to focus resources on the development of another – danuglipron. This Pfizer weight loss drug is now the lead candidate in late-stage trials for the treatment of obesity and diabetes.…

The pharmaceutical and biotech industries have experienced a surge of high-profile acquisitions and mergers in the first few months of the year, marking a notable trend in pharma M&A 2023. From Merck’s $11 billion acquisition of Prometheus Biosciences to Pfizer’s $43 billion purchase of Seagen, these deals highlight a focus on strengthening core assets and…

Pfizer and Seagen announced today that they entered into an agreement under which Pfizer acquires Seagen for $43 billion. The price of the acquisition comes to $229 in cash per Seagen share, totaling $43 billion. Both companies’ boards unanimously approved the transaction. Seagen develops antibody-drug conjugate (ADC) technology. Four of the 12 total FDA-approved and…

Big Pharma giant Pfizer (NYSE:PFE) is reportedly in talks to acquire Seagen (Nasdaq:SGEN). Founded in 1998, Seagen — formerly known as Seattle Genetics — helped pioneer a cancer therapy known as antibody drug conjugates that work like a guided missile attacking tumors with toxic agents. Last year, Segan installed David Epstein as its CEO after its…

Pharma giant Pfizer (NYSE:PFE) plans to spend more than $2.5 billion in facilities in Belgium and Ireland as it looks to diversify its product portfolio, according to Reuters. In 2021, Pfizer generated $36.9 billion in sales from the Comirnaty COVID-19 vaccine. The company projects its COVID-19 vaccine to rake in $34 billion in 2022, but COVID-related sales…

Pfizer (NYSE:PFE) shares ticked up before hours on third-quarter results that topped the consensus forecast. Shares of PFE ticked up 3.7% at $48.29 apiece before the market opened today. The New York-based pharmaceutical giant posted profits of $8.6 billion. That amounts to $1.51 per share on sales of $22.6 billion for the three months ended…

mRNA Victoria announced today that the developers of the Pfizer/BioNTech COVID-19 vaccine will establish a clinical R&D center in the Asia-Pacific region. The center enables Victorian and Australian researchers to advance the next generation of mRNA vaccines and therapies. The R&D center aims to facilitate partnerships on scientific mentoring, business development advice and drug design.…

Pfizer/BioNTech (NYSE:/PFE, Nasdaq BNTX) and Moderna (Nasdaq:MRNA) have both won emergency use authorizations in the U.S. for bivalent vaccine boosters based on BA.4/BA.5. Pfizer is aiming to win authorization to use its updated COVID-19 vaccine in children aged 5 through 11 years. Moderna has requested that FDA greenlight the use of its omicron booster in…

Pfizer (NYSE:PFE) has reached an agreement to supply as many as six million courses of its oral COVID-19 antiviral Paxlovid (nirmatrelvir and ritonavir) to the Global Fund, which seeks to help more than 100 low-to-middle income countries fight diseases such as COVID-19, HIV, tuberculosis and malaria. Pfizer notes that the agreement with the Global Fund is…