Pfizer, Flagship Pioneering Invest $100M In New Pipeline Of Innovative Drugs - What's On The Cards?
Portfolio Pulse from Nabaparna Bhattacharya
Pfizer, Inc. (NYSE:PFE) and Flagship Pioneering have agreed to invest $100 million in developing ten single-asset programs targeting diseases with limited treatment options. Each company will invest $50 million upfront. Pfizer will fund and have the option to acquire each selected development program. Flagship and its bioplatform companies could receive up to $700 million in milestones and royalties for each successfully commercialized program.
July 18, 2023 | 3:43 pm
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POSITIVE IMPACT
Pfizer's partnership with Flagship Pioneering to invest in new drug development could potentially lead to new revenue streams. The company's stock is trading higher by 1.30%.
The partnership with Flagship Pioneering opens up potential new revenue streams for Pfizer, as they will have the option to acquire each selected development program. This news is likely to be viewed positively by investors, as reflected in the stock's price increase.
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