Pfizer Shifts Strategic Focus, Pivoting From COVID To Cancer Drugs To Recover Market Value
Portfolio Pulse from Vandana Singh
Pfizer Inc (NYSE:PFE) is shifting its strategic focus from COVID-19 to cancer drugs, aiming to recover from a significant market value loss. The company plans to increase its oncology biologic drugs from 6% to 65% by 2030, following a challenging period with over $100 billion in market value lost. Pfizer's acquisition of Seagen doubles its oncology pipeline to 60 programs, with expectations of eight blockbuster medicines by 2030. The company also focuses on expanding its respiratory syncytial virus vaccine and developing treatments for sickle cell disease and obesity.
March 11, 2024 | 6:51 pm
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Pfizer is pivoting to cancer drugs and expanding its oncology pipeline through the Seagen acquisition, alongside developing vaccines and treatments for other diseases. This strategic shift comes after a significant market value loss.
Pfizer's strategic shift towards oncology and expansion of its drug pipeline, especially after the acquisition of Seagen, indicates a strong potential for recovery and growth. This move, coupled with developments in vaccines and treatments for other diseases, could positively impact its stock price in the short term, especially considering the recent 3.10% increase in share price.
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