Pfizer Acquires Amplyx Pharmaceuticals
After getting its Covid-19 vaccine to market in record time, Pfizer Inc. (NYSE: PFE) is back on the acquisition trail. The pharmaceutical giant has purchased Amplyx Pharmaceuticals, Inc. for an undisclosed sum. Amplyx Pharmaceuticals is a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections. In addition to Fosmanogepix, with this acquisition, Pfizer has secured ownership of Amplyx’s early-stage pipeline that includes potential antiviral... Read More »
Pfizer Teams up on Lyme Disease Vaccine
Even as it scrambles to join the hunt for a COVID-19 vaccine, Pfizer Inc. (NYSE: PFE) is still open to other ventures. On April 30 the Big Pharma signed a collaboration agreement with French specialty vaccine maker Valneva SE to develop and commercialize Valvena’s Lyme disease drug candidate VLA15, which is currently in Phase 2 clinical studies. VLA15 is the only active Lyme disease vaccine program in clinical development today and covers six serotypes that are prevalent in North America and Europe. It demonstrated strong immunogenicity and safety data in pre-clinical and Phase 1 studies. The program was granted Fast Track designation by the U.S. Food and Drug Administration in July... Read More »
Pfizer Finally Spins Off Upjohn
It’s official. Pfizer Inc. (NYSE: PFE) will spin off Upjohn, its off-patent branded and generic drug division, and merge it with another generic drug maker, Mylan N.V. (NASDAQ: MYL), to create a new company. The deal is structured as an all-stock Reverse Morris Trust merger. Pfizer shareholders will own 57% of the new combined company, and Mylan’s will own 43%. The new company is expected to have pro forma 2020 revenues of $19 billion to $20 billion, EBITDA of $7.5 billion to $8 billion, and free cash flow in excess of $4 billion. After Upjohn issues $12 billion of debt at or prior to separation, with gross debt proceeds retained by Pfizer, the combined company will have... Read More »