Pfizer Stock Price, News & Analysis

Pfizer Inc. (NYSE: PFE) announced that the European Commission has approved XELJANZ® (tofacitinib) at 5 mg twice daily for adults with active ankylosing spondylitis (AS) who do not respond adequately to conventional therapies. XELJANZ is the first oral Janus kinase (JAK) inhibitor approved for five indications in the EU. The approval is based on a Phase 3 study involving 269 patients, which demonstrated significant efficacy over placebo (ASAS20: 56.4% vs. 29.4%, p<0.0001). The approval aims to fulfill an unmet medical need for over one million AS patients in the EU.

Cardiff Oncology (Nasdaq: CRDF) announced a $15 million equity investment from Pfizer (NYSE: PFE) to support its clinical programs for KRAS-mutated cancers, including colorectal and pancreatic cancer. Pfizer acquired 2.4 million shares at $6.22 each as part of its Breakthrough Growth Initiative. This collaboration aims to enhance Cardiff's efforts in developing onvansertib, a PLK1 inhibitor, alongside leveraging data from their clinical trials. Pfizer's VP, Adam Schayowitz, is set to join Cardiff's Scientific Advisory Board to further assist in innovative cancer therapies.

Pfizer has announced a supply agreement with the U.S. government for PAXLOVID™ (PF-07321332; ritonavir), pending FDA authorization. The deal includes 10 million treatment courses for $5.29 billion, reflecting a commitment to ensuring equitable access across various income levels. PAXLOVID, a novel oral antiviral designed to combat SARS-CoV-2, showed an 89% reduction in COVID-19-related hospitalization or death in clinical trials. Pfizer is pursuing regulatory approvals globally while investing $1 billion to enhance manufacturing and distribution.

Pfizer Inc. (NYSE: PFE) has completed its acquisition of Trillium Therapeutics, an immuno-oncology company, for $18.50 per share, totaling approximately $2.22 billion. This acquisition enhances Pfizer's oncology portfolio with novel therapies targeting hematological malignancies. Trillium’s lead molecules, TTI-622 and TTI-621, are currently in Phase 1b/2 clinical trials. The deal will result in Trillium's shares being delisted from the Nasdaq and Toronto Stock Exchange. This strategic move aims to leverage Pfizer's resources to accelerate innovative cancer treatments.

Pfizer Inc. (NYSE: PFE) has announced the retirement of Frank D’Amelio, CFO, after nearly 15 years. D’Amelio will assist in the transition as Pfizer conducts an external search for his successor. Mike McDermott, previously EVP Chief Global Supply Officer, has been appointed to the Executive Leadership Team. Under D’Amelio, Pfizer achieved $150 billion in market cap growth and engaged in $200 billion in acquisitions and partnerships. McDermott played a crucial role in ramping up vaccine production during the COVID-19 pandemic.

Pfizer is seeking Emergency Use Authorization (EUA) for its investigational oral antiviral, PAXLOVID™ (PF-07321332; ritonavir), aimed at treating mild to moderate COVID-19 in high-risk patients. The request is based on an interim analysis from the Phase 2/3 EPIC-HR study, showing an 89% reduction in COVID-19-related hospitalizations or deaths compared to placebo. Rolling submissions for the drug have begun in countries like the UK and Australia, with further submissions planned globally. Pfizer is investing up to $1 billion to support the manufacturing and distribution of PAXLOVID.

Pfizer Inc. (NYSE: PFE) has signed a voluntary license agreement with the Medicines Patent Pool (MPP) to enhance access to its COVID-19 oral antiviral treatment, PF-07321332. This agreement will empower qualified generic manufacturers to distribute the treatment in 95 countries, covering around 53% of the global population, especially in low- and middle-income nations. Interim data from the Phase 2/3 EPIC-HR study indicates a remarkable 89% reduction in COVID-19-related hospitalizations or deaths among treated high-risk patients.

Pfizer Inc. (NYSE: PFE) announces a webcast featuring key executives, including Chief Scientific Officer Mikael Dolsten, on November 17, 2021, at 12:30 p.m. EST during the Wolfe Research Healthcare Conference 2021. The session will cover advances in research and development, with a focus on their product pipeline.

Investors can access the live webcast and later replay on Pfizer's investor website, with transcripts available within 24 hours. Pfizer continues to emphasize its commitment to innovative healthcare solutions and improving patient lives globally.

Biohaven and Pfizer announced a strategic collaboration for the commercialization of rimegepant outside the U.S. Rimegepant, known as Nurtec® ODT in the U.S., is indicated for both acute and preventive migraine treatment. Pfizer will pay $500 million upfront, with $350 million in equity purchase at a 25% premium, and may provide up to $740 million in milestones. Biohaven will retain responsibility for further development while Pfizer will handle commercialization globally, excluding the U.S. This partnership aims to enhance access to innovative migraine treatments worldwide.