Pfizer announced the trials for the twice-a-day danuglipron pill last year and said that it expects the drug to generate revenue of $10 billion. However, the testing phase of the pill didn’t go as planned, with a large number of patients abandoning the trials due to severe side effects linked with gastrointestinal issues like nausea and vomiting.

The company will continue working on a modified version of danuglipron, which will come as a once-a-day pill. The first study results for this version of the drug are expected to be released in the first half of 2024. Still, the investors don’t seem overly confident about this news.

Pfizer’s stock has been sliding for the better part of the year, which was caused by low demand for COVID-19-related products and increasing competition for their best-selling drugs. The company’s shares are already 43% down year to date and don’t show signs of recovering despite recent cost-cut measures that could potentially save the company around $3.5 billion.  

The post Pfizer Stock Sliding After Pulling the Plug on Highly-Anticipated Weight Loss Pill appeared first on theprimarymarket.com.

Merck seemed to be close to buying Seagen last year for a reported price of $200 per share, with the total value of the deal being estimated to be $40 billion. However, the talks between the two sides cooled off for an unspecified reason, allowing Pfizer to get involved.

Wall Street Journal’s report points out that the deal between Pfizer and Seagen is not guaranteed to go through. Two sides need to overcome several obstacles, including the antitrust review, but there is initial optimism that the deal could be pushed over the finish line at some point. Seagen is valued at around $30 billion at the moment, which is reportedly the price Pfizer would pay if the agreement is made.

Pfizer is looking to expand its cancer treatment portfolio, given the fact that several of its patents expire in 2030. This could result in the company losing up to $17 billion in sales.

After the news about Pfizer’s interest in Seagen became public, the company’s stock took a 4% dip on Monday compared to last week’s closing price of $41.70 per share. On the other hand, Seagen’s stock climbed from $161.37 to 182.54 at one point before settling at $176.55.

The post Pfizer Interested in Purchasing Seagen for $30 Billion appeared first on theprimarymarket.com.

Pfizer announced the trials for the twice-a-day danuglipron pill last year and said that it expects the drug to generate revenue of $10 billion. However, the testing phase of the pill didn’t go as planned, with a large number of patients abandoning the trials due to severe side effects linked with gastrointestinal issues like nausea and vomiting.

The company will continue working on a modified version of danuglipron, which will come as a once-a-day pill. The first study results for this version of the drug are expected to be released in the first half of 2024. Still, the investors don’t seem overly confident about this news.

Pfizer’s stock has been sliding for the better part of the year, which was caused by low demand for COVID-19-related products and increasing competition for their best-selling drugs. The company’s shares are already 43% down year to date and don’t show signs of recovering despite recent cost-cut measures that could potentially save the company around $3.5 billion.  

The post Pfizer Stock Sliding After Pulling the Plug on Highly-Anticipated Weight Loss Pill appeared first on theprimarymarket.com.

Merck seemed to be close to buying Seagen last year for a reported price of $200 per share, with the total value of the deal being estimated to be $40 billion. However, the talks between the two sides cooled off for an unspecified reason, allowing Pfizer to get involved.

Wall Street Journal’s report points out that the deal between Pfizer and Seagen is not guaranteed to go through. Two sides need to overcome several obstacles, including the antitrust review, but there is initial optimism that the deal could be pushed over the finish line at some point. Seagen is valued at around $30 billion at the moment, which is reportedly the price Pfizer would pay if the agreement is made.

Pfizer is looking to expand its cancer treatment portfolio, given the fact that several of its patents expire in 2030. This could result in the company losing up to $17 billion in sales.

After the news about Pfizer’s interest in Seagen became public, the company’s stock took a 4% dip on Monday compared to last week’s closing price of $41.70 per share. On the other hand, Seagen’s stock climbed from $161.37 to 182.54 at one point before settling at $176.55.

The post Pfizer Interested in Purchasing Seagen for $30 Billion appeared first on theprimarymarket.com.