PFE - Why Did Pfizer Offload This Potential Mega-Blockbuster Drug?
2023-04-23 16:45:00 ET
Last December, Pfizer (NYSE: PFE) essentially out-licensed its tumor necrosis factor-like ligand 1A (TL1A), PF-06480605 (now RVT-3101), to Roivant Sciences (NASDAQ: ROIV) by forming a new company with the precision drugmaker. Per the terms of the deal Pfizer owns a 25% equity stake in the new company, along with the drug's commercial rights outside of the U.S. and Japan.
Although the deal didn't exactly raise eyebrows among investors at the time, Merck 's recent $10.8 billion acquisition of Prometheus Biosciences for its rival TL1A therapy, PRA023, raises some serious questions about Pfizer's decision to offload its internally developed anti-inflammatory and anti-fibrotic candidate.
Image source: Getty Images.
For further details see:
Why Did Pfizer Offload This Potential Mega-Blockbuster Drug?