- Pfizer Inc PFE is reportedly exploring options for some early-stage candidates for rare diseases, including developing new viral-based gene therapies.
- Financial newspaper Barron's first reported on Thursday.
- The U.S. pharma giant said these options included collaborations with other drug developers for these medicines or establishing a new company, with an aim to focus on "high-impact" medicines and vaccines.
- Also see: Pfizer Expects $10-$15B From mRNA Vaccine Sales By 2030, Sees $17B Revenues Lost Due To Patent Expiry.
- The company said it would look for external opportunities for most of its early-stage rare disease programs in neurology, cardiology, and gene therapy programs not yet in clinical trials.
- Pfizer might chop its gene therapy manufacturing facility in Durham, North Carolina, with the decision. The company announced in December 2021 that it was investing nearly $70 million.
- Pfizer plans to focus on internally developing rare disease treatments using technologies such as gene editing, Reuters wrote citing Barron's report.
- Earlier today, the FDA accepted Pfizer's supplemental application for its 20-valent pneumococcal conjugate vaccine candidate for infants and children six weeks through 17 years.
- Pfizer in August 2022 announced a $4.5 billion deal for sickle cell disease drugmaker Global Blood Therapeutics months after its $11.6 billion deal for Biohaven Pharmaceutical Holding.
- Price Action: PFE shares are down 0.12% at $49.60 during the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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