Several big-name drugmakers are weighing in on the opportunity in the weight-loss drugs market.
CEO Emma Walmsley projects that the British biopharma’s Arexvy sales will exceed £1 billion in its first year on the market, leaving Pfizer’s Abrysvo respiratory syncytial virus vaccine far behind in the race.
Although Pfizer has a once-daily version of the weight-loss pill in the works, the decision still marks a blow to its ambition of entering a booming market that analysts expect to be worth $100 billion by the end of the decade.
The European Patent Office declared a contested mRNA patent owned by Moderna invalid on Tuesday, the office said, handing a win to BioNTech and its partner Pfizer in a patent dispute between the two coronavirus vaccine makers.
A Pfizer spokesperson confirmed the headcount reduction to the Fox TV affiliate in West Michigan, adding that it is also part of the company’s cost-cutting initiative to better position it for improved revenue performance in the future.
Sangamo Therapeutics is shuttering its Brisbane, California headquarters and cutting its U.S. workforce by approximately 40% of its total headcount.
The drug, branded as Litfulo, has been approved by UK’s Medicines and Healthcare products Regulatory Agency (MHRA) for people aged 12 years and older suffering from severe alopecia areata.
Pfizer on Tuesday reported its first quarterly loss since 2019, as demand fell for its COVID products and it recorded a hefty charge mainly from the U.S. government returning millions of doses of its antiviral treatment Paxlovid.
Pfizer , which dominated COVID vaccine sales, now finds itself looking up at GSK , whose rival new respiratory syncytial virus (RSV) vaccine has surged to an early lead since the shots launched this summer.
“This vaccine has the potential to lessen the impact of two respiratory diseases with a single injection and may simplify immunization practices,” Annaliesa Anderson, Pfizer’s head of vaccine research and development, said in a statement.