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…
Pfizer to invest billions in plants in Europe
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 beats The Street in Q3, raises guidance
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…
Developers of Pfizer/BioNTech COVID-19 vaccine to establish Asia-Pacific mRNA R&D center
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 and Moderna seek FDA nod for omicron-adapted COVID boosters in children
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 to provide up to 6 million Paxlovid courses to developing countries
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…
Pfizer’s plan to acquire GBT for $5.4B hits legal speed bump
In early August, Pfizer (NYSE: PFE) announced its intent to acquire Global Blood Therapeutics (Nasdaq:GBT) for $68.50 per share, or approximately $5.4 billion. Now, however, investors are pushing back, alleging that GBT executives made incomplete and misleading statements to win shareholder approval for the prospective deal. In a complaint filed in the Southern District of…
Pfizer and BioNTech get positive CHMP opinion for updated bivalent BA.4/BA.5-adapted COVID-19 vaccine booster
Pfizer (NYSE: PFE) and its partner BioNTech (Nasdaq:BNTX) could potentially win authorization to market a 30-µg booster dose of their omicron BA.4/BA.5 bivalent-adapted COVID-19 vaccine after the Committee for Medicinal Products for Human Use (CHMP) backed the vaccine for individuals 12 and older. The European Commission will likely make a final decision on the updated…
Pfizer CEO tests positive for COVID-19
Pfizer’s (NYSE:PFE) CEO Dr. Albert Bourla acknowledged in a statement that he has COVID-19. Bourla, who is 60, has received four doses of the Pfizer-BioNTech Comirnaty vaccine. He also has begun taking a course of the company’s antiviral Paxlovid. The Pfizer CEO notes that symptoms to date have been very mild. Pfizer’s revenue has soared during the…
Pfizer to scoop up Global Blood Therapeutics for $5.4 billion
After a banner year in 2021, Pfizer (NYSE:PFE) is on a spending spree. The company plans to acquire Global Blood Therapeutics (GBT) (Nasdaq:GBT) for $68.50 per share. The total sale price of acquisition, if it moves forward, would be roughly $5.4 billion. Global Blood Therapeutics’s therapeutic focus is primarily on sickle cell disease. In March,…