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Pfizer to infuse up to USD 500 million in public drug developers
Pfizer said it will make non-controlling investments in the biotechs with small- to medium-sized market capitalizations, but did not identify them.
US: Pfizer Inc said on Tuesday it will invest up to $500 million into publicly-traded drug developers to fund their treatment candidates and provide access to the U.S. drugmaker's scientific expertise.Pfizer said it will make non-controlling investments in the biotechs with small- to medium-sized market capitalizations, but did not identify them.The move comes at a time when the COVID-19...
US: Pfizer Inc said on Tuesday it will invest up to $500 million into publicly-traded drug developers to fund their treatment candidates and provide access to the U.S. drugmaker's scientific expertise.
Pfizer said it will make non-controlling investments in the biotechs with small- to medium-sized market capitalizations, but did not identify them.
The move comes at a time when the COVID-19 pandemic has led drugmakers to delay their clinical trials testing various therapies.
Pfizer said its Breakthrough Growth Initiative program, under which it was making the investment, allows partner companies to access its research, clinical development and manufacturing resources.
Read also: Pfizer to focus on coronavirus vaccine; outsource some drug production
Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751