Prevnar's lonely days are over. Pfizer is finally beefing up beyond its best-selling franchise--a long-stated objective of CEO Ian Read's--nabbing Baxter's marketed vaccines portfolio in a $635 million deal.
Looks like Pfizer's finally getting the vaccines expansion it's been hankering for. The company agreed to pick up Baxter's marketed vaccines portfolio for $635 million, building up its own business as the Illinois healthcare company slims down for a pharma unit spinoff next year.
Pfizer beat analyst expectations for earnings. That's not as positive as it sounds, and it's certainly not the whole story.
Three Big Pharma companies have helped come up with some seed money to start growing the first crop of biotechs in New York. Pfizer, Eli Lilly and J&J all chipped in to a $51 million fund from Accelerator Corp., which will now expand on the work it's been doing in Seattle to the East Side of Manhattan, recruiting upstarts to join investigators at the Alexandria Center for Life Science.
Pfizer is in a nasty fix. Tomorrow the pharma giant will release a rundown of its Q2 numbers--which won't be pretty--and CEO Ian Read and his top team will have plenty of explaining to do about how they plan to get out of the tight spot they find themselves in.
Vaccines, which can be complicated and expensive to manufacture, haven't always been the moneymakers they are for some drugmakers today. Last year, the global vaccines market topped $25.56 billion according to Evaluate Pharma, with the world's 6 top-selling shots each cracking the blockbuster barrier.
If someone asked who you'd turn to for relationship advice, chances are you wouldn't say Pfizer. But that could change.
If someone asked who you'd turn to for relationship advice, chances are you wouldn't say Pfizer. But that could change. The drugmaker has set up a sort of Love Connection campaign to support its contraceptive brand Harmonet in Asia.
Shares of Puma Biotechnology soared more than 220% after the markets closed on Tuesday as investors cheered the biotech's positive Phase III numbers for a late-stage study of their lead drug neratinib (PB272).
Pfizer said Wednesday that it would buy New Jersey-based InnoPharma, for $225 million in cash and up to $135 million in contingent milestone payments.