Company updateBusinessLine
Blackstone puts up $1.5 billion for Pfizer obesity drug studies
Positive+30
GreyOak summary
Pfizer Inc. agreed to a deal with Blackstone Inc. to secure up to $1.5 billion in funding for developing an experimental monthly obesity injection. The funds, managed by Blackstone Life Sciences, will cover development costs through 2028. Pfizer retains full ownership of the medicine while aiming to compete with market leaders Eli Lilly and Novo Nordisk.
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- PfizerPFIZERPositive +30
Secured $1.5B funding for obesity drug studies.Rolling sentiment Positive +34
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