Pfizer
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If a brand name drug loses patent protection, that often marks the date when companies can begin marketing generic versions of the drug. However, this has grown more complicated with the approvals of biosimilars.
Pfizer Inc. may have a new potential buyer for its consumer health business unit. Mega-consumer goods company Procter & Gamble is reportedly interested in acquiring the business.
Pfizer, based in New York City, and Allogene Therapeutics, based in South San Francisco, entered into an asset contribution deal, as well as a $300 million Series A round.
Pfizer’s erectile dysfunction pill Viagra came on the market 20 years ago. As prescription sales falter and generics hit the market—as well as competitors such as Eli Lilly’s Cialis—the company is looking for replacements.
Pfizer could be eying the green light for a first-ever regulatory approved treatment for transthyretin cardiomyopathy (TTR) following positive topline results from a late-stage study.
Yesterday’s news that Takeda Pharmaceuticals was considering acquiring Shire is raising the possibility of a bidding war. But it’s also having decidedly different effects on the two companies’ stock prices.
GlaxoSmithKline walked away from a potential deal to acquire Pfizer’s consumer health unit four days ago and instead opted to acquire the stake controlled by Novartis. The deal will give GSK 100 percent ownership of the business unit.
GlaxoSmithKline has decided not to make a play for Pfizer’s consumer health business. The decision came one day after another potential suitor walked away from a potential deal.
Rheos Medicines, backed by Third Rock Ventures, launched with a $60 million Series A financing. The company will focus on immunometabolism to treat disease.
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