Pfizer
NEWS
As a result, the company will cut 300 jobs, primarily in Massachusetts and Connecticut.
About 200 of the job cuts will be in Massachusetts, the remaining in Connecticut.
Pfizer will use Arvinas’ proprietary PROTAC Platform to create small molecule therapeutics aimed at degrading disease-causing cellular proteins.
Sangamo and Pfizer will use the company’s ZFP-TFs to develop the treatments that are linked to mutations of the C9ORF72 gene, which can cause both ALS and FTLD.
Pfizer may be the surprise strong-growth stock for next year.
The FDA approved Merck’s and Pfizer’s Steglatro, a SGLT2-inhibitor, that will square off against established drugs in the market.
Pfizer’s announcement comes ahead of the Trump administration’s long-awaited bill to lower taxes.
The five top-selling drugs brought in a combined $48B so far this year.
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