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Pfizer To Invest Up To $500m In Public Drug Developers

Next Edition by Next Edition
June 2, 2020
in Top News
Pfizer To Invest Up To $500 m In Public Drug Developers
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Pfizer Inc (PFE.N) said on Tuesday it would invest up to 500 million dollars into publicly traded drug developers to fund their treatment candidates and provide access to the U.S. drugmaker’s scientific expertise.

Pfizer said it would make non-controlling investments in the biotechs with small- to medium-sized market capitalisations, but did not identify them.

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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 programme, under which it was making the investment, allows partner companies to access its research, clinical development and manufacturing resources

Reuters/NAN

 

Tags: In Public Drug DevelopersPfizer Breakthrough Growth Initiative programmePfizer To Invest Up To $500mU.S. drugmaker’s scientific expertise
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