Another day, another onslaught of Pfizer-AstraZeneca news. We admit to a slight case of Pfizer Pfatigue, and if yesterday's web traffic is any guide, readers are similarly afflicted. But the $100 billion-plus merger proposal is massive, with enormous potential side effects, so even the rhetoric is worth consideration. Here are the highlights, from hints of a new bid to Pfizer CEO Ian Read's purported reassurances to U.S. lawmakers' heightened job worries.
The leaders of Pfizer and AstraZeneca are taking turns making their cases to British lawmakers, with the former trying to mollify locals afraid that its planned $106 billion buyout would maim U.K. R&D and the latter working to mount a defense in its home country.
With various U.K. media groups adding their voices to a crescendo of criticism over Pfizer's proposed $106 billion-plus buyout of AstraZeneca, the company's R&D chief is continuing to try and insist that this deal makes really good sense from a drug research perspective. But he's finding few buyers for that argument after years of Big Pharma reorganizations and mass layoffs in R&D.
With U.K. lawmakers skeptical of Pfizer's commitment to keep AstraZeneca jobs and AstraZeneca science in the U.K., Pfizer over the weekend released a series of videos focusing on that science--and downplaying the tax benefits CEO Ian Read crowed about so loudly when first confirming his company's trans-Atlantic bid.
Given the eyebrow-raising cash component in Celgene's new deal with Nogra, we thought it would be fun to list the top 10 upfronts paid for experimental drugs, ranked simply according to the cash included in the upfront--no surer sign of what a company really thinks about the potential of an experimental therapy or portfolio.
Last March, Pfizer announced it would file for approval for its meningitis B candidate. Now, it has positive results from a pair of midstage trials for the jab that will keep it on track for expedited approval--and a showdown with Novartis' Bexsero.
Pfizer has managed to upset just about everybody with its $106 billion takeover offer for U.K.-based AstraZeneca. AstraZeneca doesn't like it. The U.K. Parliament is concerned about possible losses of job and status. Some U.S. politicians see it as a tax dodge, and even a couple of governors fear Pfizer will slash AstraZeneca jobs in their states.
Amid concerns that its planned buyout of AstraZeneca would deal a blow to U.K. R&D, Pfizer has teamed up with a host of British universities to collaborate on rare-disease drugs.
Anxious to fight off Pfizer's $106 billion marriage proposal, AstraZeneca's research team has rushed its high-profile immuno-oncology drug into a late-stage test. And they're setting out by targeting non-small cell lung cancer in the first Phase III in the MEDI4736 program.
Earlier this week, Pfizer's reported that its vaccines unit managed a 2% revenue increase in Q1, with anchor Prevnar 13's worldwide sales missing consensus estimates. But if CEO Ian Read can wrap up the deal with AstraZeneca he's been hankering for, that business could get a boost in the not-too-distant future.