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CNBC | Pfizer is betting big on cancer drugs to turn business around after Covid decline
Pfizer pitched its deeper push into oncology during a four-hour investor event last week. And it had a splashy 60-second Super Bowl ad that touted its initiative to "outdo cancer." The shift comes at a crucial time for Pfizer. The pharmaceutical giant has been trying to shore up investor sentiment after its shares fell more than 40% in 2023. That share drop erased more than $100 billion in Pfizer's market value.
During the investor day, Pfizer laid out its priorities now that it has fully integrated with the targeted cancer drugmaker Seagen. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs.
With Seagen under its belt, Pfizer says its drug pipeline could produce at least eight blockbuster medicines by 2030, up from just five today. But the company did not disclose which drugs it believes could offer that potential.
FT | Pfizer plans direct-to-consumer platform for Covid and migraine drugs (01.05.24)
The website, which is expected to launch later this year, would connect customers in the US with independent telehealth consultants to prescribe the medications, while a drug-dispensing partner would fill and ship the prescriptions. It comes after Eli Lilly, the world's largest drugmaker by market value, launched a similar platform in an industry first earlier this year. Pfizer said the company had "a history of and an ongoing commitment to providing timely and accurate information about our medicines and vaccines, and resources to help access them, so that patients can make informed decisions about their healthcare, together with a medical professional".
archive March-In Authority 2023, May 2023 living lab living dead, Personalized Cancer mRNA Vaccine, 2022 Medical Industrial Complex (MIC)
by Cat on Fri May 10th, 2024 at 06:46:38 PM EST

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