At yesterday’s Oncology Innovation Day, Pfizer laid out its business strategy which includes building up its biologics business, specifically antibody-drug conjugates and bispecific antibodies.
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The company said in a press release that the vaccine’s efficacy against RSV-associated lower respiratory tract disease with three or more symptoms was 77.8% through season two, compared with efficacy of 88.9% after the first RSV season, which led to the shot’s U.S. approval.
Merger and acquisition activity is on the rise after the biopharma industry moved on from the COVID-19 pandemic, while the role of AI in drug development is reaching new levels.
Pfizer has agreed to pay $93 million to settle antitrust claims by wholesale drug distributors that accused it of conspiring with India’s Ranbaxy Laboratories to delay sales of less expensive, generic versions of the cholesterol drug Lipitor.
Moderna fell as much as 7% on Friday after Wall Street analysts raised concerns over faster declines in the efficacy of its experimental respiratory syncytial virus (RSV) vaccine when compared with rival shots from GSK and Pfizer.
Today the company reported a surprise quarterly profit on Tuesday, helped by cost-cutting measures and fewer returns of its COVID treatment Paxlovid by the U.S. government than it had expected, but revenue fell short of Wall Street estimates.
“Would-be insider traders tempted by the prospect of easy money should know that the Southern District of New York is watching, we’ll catch you, and we’ll make sure you pay the price for violating the law,” stated Damian Williams, United States Attorney for the Southern District of New York.
Pharmaceutical executives from Amgen to Pfizer are plotting to break into the lucrative obesity market by developing or cutting deals to acquire better drugs that will compete with Novo Nordisk’s Wegovy and Zepbound from Eli Lilly .
Today the company said it expects to return to revenue growth in 2025 when the ongoing decline in its COVID-19 vaccine business would bottom out, and that it would invest to scale up its oncology business thereafter.
“Pfizer’s position is that we believe that obesity is a place that we have the ability to play and win. So we will have to play,” Bourla told reporters ahead of his presentation at the JPMorgan healthcare conference in San Francisco.
