Dec. 9 at 9:19 PM
$ALT Competition update:
Pfizer
$PFE is being penny wise and pound foolish w/ their Yao Pharma licensing deal. It's a
$1.9 B biobucks deal w/
$150 M cash up front, which was critical as Yao didn't have enough cash to finish their ongoing P1 trial. All that for another GLP-1 agonist, all that because they're too cheap to buy out ALT for
$4 b and get a P3 ready product.
This is on top of their recent purchase of Metsera, after a bidding war w/ Novo Nordisk
$NVO , to get yet another GLP-1 drug still in P2b testing.
Not sure who's calling the shots on this at Pfizer, but the shotgun accuracy is costing them more than it should.
https://www.fiercebiotech.com/biotech/pfizer-continues-renewed-obesity-push-2b-pact-fosun-units-glp-1-drug