Pfizer, Blackstone Agree to Fund Obesity Drug Development
Blackstone-managed funds will pay up to $1.5 billion in development costs through 2028 for Pfizer’s investigational berobenatide under a co-funding agreement.
Story updates
09:30:29 PM UTC
SquawkNews
Funds managed by Blackstone will pay up to $1.5B of berobenatide development costs through 2028. Blackstone may receive milestone-based payments subject to U.S. regulatory approval of monthly injectable monotherapy and commercial sales milestones.Material DetailsContext by AI AnalystThis is a devel…
09:59:25 PM UTC
SquawkNews
Pfizer Signs $1.5 Billion Deal With Blackstone to Fund Weight-Loss-Drug Development
Pfizer Inc. (NYSE:PFE) and Blackstone Life Sciences (“Blackstone”) today announced a strategic co-funding agreement under which funds managed by Blackstone will pay up to a total of $1.5 billion of development costs through 2028 for berobenatide, an investigational, potential first-in-class monthly…