“To have equitable distribution of the products and ensure availability to those in most need, as well as to avoid hoarding, Pfizer has put the inventory of many products on strict allocation,” stated FDA Commissioner Robert Califf, M.D.
The top industry player to seize this multibillion-dollar opportunity is Pfizer, which will sustain a 9.2% decline in annual sales forecast from 2023 to 2029 but will nevertheless hold the most dominant position in the infectious diseases space.
Pfizer initiated a lawsuit against a biotech company founded by its former employees in 2022, accusing them of misappropriating trade secrets and breaching contracts. Now, both companies have reached a settlement. And more lawsuits over the past couple of months.
The company’s affected plant in Rocky Mount, North Carolina produces nearly 30% of all sterile injectables used in U.S. hospitals.
J&J, Merck and Pfizer are the subjects of a House Judiciary Committee investigation for their alleged participation in a government-sanctioned censorship campaign during the COVID-19 pandemic.
Flagship, which has stakes in several other biotech companies including Moderna, will invest $50 million in the Pfizer partnership. Its drug discovery initiative, called Pioneering Medicines, will lead the research for new drug molecules.
Regulators have recently increased scrutiny on high-value deals.
The latest deals will see the biotech division of the Samsung Group produce biosimilar products ranging from oncology and inflammation to immunotherapy in the period to 2029 at its new Plant 4 in South Korea.
The European Commission has contracted pharma companies including Pfizer to reserve capacity to make up to 325 million vaccines per year in case of a future global health emergency.
The recommendation comes after the agency’s advisers backed the use of the shots last week in older adults, but stopped short of saying all of them should get the shots.