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Blackstone will finance Pfizer's new drug with $1.5 billion

მარიამ ქადარიაNovember 13, 20261 min read
Blackstone will finance Pfizer's new drug with $1.5 billion

Blackstone will allocate up to $1.5 billion for the development of Pfizer's new obesity treatment drug. The funds will be spent on the final stage of clinical trials.

The drug in question is berobenatide, which Pfizer obtained after acquiring Metsera for $10 billion. The drug is designed for weight control, and one of its potential advantages is that it is administered via injection once a month.

Blackstone will take part in financing around ten clinical trials, disbursing the funds in stages through 2028. If the drug receives approval from the US Food and Drug Administration and sales reach agreed-upon targets, Pfizer will pay Blackstone an additional sum.

Pfizer is seeking to strengthen its position in the obesity drug market, where Novo Nordisk and Eli Lilly are already firmly established.

Source: Yahoo Finance

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