Welcome to our dedicated page for Pfizer news (Ticker: PFE), a resource for investors and traders seeking the latest updates and insights on Pfizer stock.
Pfizer Inc. reports developments across its global biopharmaceutical business, including prescription medicines, vaccines, biosimilars, sterile injectables, and oncology therapies. Recurring news covers financial results and guidance, commercial portfolio changes within Biopharma, dividend declarations, capital allocation priorities, and product access initiatives for established medicines such as Eliquis.
Company updates also address clinical and regulatory activity across Pfizer's pipeline and marketed products. Recent themes include oncology data presentations, Phase 3 results for ELREXFIO in relapsed or refractory multiple myeloma, PADCEV combination regulatory activity in bladder cancer, VYNDAMAX patent litigation settlements, and shareholder meeting communications.
Pfizer Inc. (NYSE: PFE) announced its 2020 financial results, with Q4 revenues up 12% to $11.7 billion, driven by operational growth from various therapeutic areas, including a notable 23% growth in Oncology. Full-year revenues reached $41.9 billion, a 2% increase over 2019. The company raised its 2021 guidance, projecting revenues of $59.4 to $61.4 billion, largely attributed to the COVID-19 vaccine BNT162b2, expected to generate approximately $15 billion in revenue. Pfizer’s Adjusted Diluted EPS for 2021 is guided at $3.10 to $3.20, reflecting a 42% increase compared to 2020.
Phoenix Venture Partners LLC (PVP) has successfully closed its latest venture capital fund, PVP III LP, at the end of 2020, which was oversubscribed. The fund attracted sophisticated financial institutions, family offices, and multinational corporations, including Pfizer (PFE) and Corning (GLW). PVP is recognized for its strong returns in Advanced Materials and Device investing, and the new fund aims to invest in innovative startups globally. Managing General Partners expressed satisfaction with the investor interest and commitment amid global challenges.
Pfizer (NYSE: PFE) reported co-primary endpoint results from the ORAL Surveillance study, evaluating the safety of tofacitinib in rheumatoid arthritis patients aged 50 and older with cardiovascular risk factors. The study found that the prespecified non-inferiority criteria for major adverse cardiovascular events (MACE) and malignancies were not met for tofacitinib compared to TNF inhibitors. A total of 4,362 subjects were treated, with 135 experiencing MACE and 164 malignancies. Pfizer is collaborating with the FDA to analyze full study results, which are forthcoming.
Pfizer Inc. (NYSE: PFE) and EMD Serono announced that the European Commission approved BAVENCIO® (avelumab) for first-line maintenance treatment of adult patients with locally advanced or metastatic urothelial carcinoma (UC) who are progression-free following platinum-based chemotherapy.
BAVENCIO is the only immunotherapy shown to improve overall survival in advanced bladder cancer. In the JAVELIN Bladder 100 trial, the treatment significantly increased median overall survival to 21.4 months compared to 14.3 months for best supportive care alone. This approval marks a significant step in cancer treatment.
Pfizer and BioNTech SE have secured an advance purchase agreement with COVAX for up to 40 million doses of their COVID-19 vaccine, aimed at equitable distribution. The doses will be supplied throughout 2021, with the first expected in Q1, 2021. This initiative supports 92 low-income countries, ensuring access at a not-for-profit price. Both companies emphasize their commitment to providing affordable vaccines globally, aimed at combating the pandemic. The financial specifics of the agreement remain undisclosed.
Pfizer (NYSE:PFE) announced FDA approval for XALKORI® (crizotinib) to treat pediatric patients aged 1 and older with relapsed or refractory, systemic ALK-positive anaplastic large cell lymphoma (ALCL). This marks the first biomarker-driven therapy for such patients, expanding treatment options for a rare form of non-Hodgkin lymphoma. Study ADVL0912 demonstrated an 88% objective response rate among 121 patients, with 39% maintaining response for at least 6 months. XALKORI previously received Breakthrough Therapy designation for this indication in May 2018.
Pfizer Inc. (NYSE: PFE) announced a $120 million investment in four clinical-stage biotech companies as part of its Pfizer Breakthrough Growth Initiative (PBGI). This initiative aims to invest up to $500 million in biotechnology firms developing clinical-stage assets aligned with Pfizer's focus areas, including oncology and rare diseases. Initial investments include ESSA Pharma ($10M), Trillium Therapeutics ($25M), Vedanta Biosciences ($25M), and Homology Medicines ($60M). Pfizer aims to leverage its resources to drive innovative therapies for patients.
Pfizer Inc. (NYSE: PFE) announced the dosing of the first participant in the Phase 3 CIFFREO study, investigating gene therapy candidate PF-06939926 for Duchenne muscular dystrophy (DMD). The trial aims to enroll 99 boys aged 4 to 7 across 15 countries, focusing on the efficacy and safety of the treatment. The primary outcome is the change in North Star Ambulatory Assessment score after one year. With no approved treatments currently available for DMD, the trial represents a significant milestone for patients and families affected by this condition.
ImaginAb Inc. has signed a multi-year, non-exclusive license agreement with Pfizer (NYSE: PFE) to provide the 89Zr CD8 Immuno-PET agent, aimed at imaging CD8 T cells in cancer patients. This partnership is expected to enhance drug efficacy identification, potentially shortening clinical trial durations and reducing costs. ImaginAb will supply clinical doses and offer technical support, receiving license fees and manufacturing payments in return. This agreement builds on a prior alliance focused on 89Zr CD8 Immuno-PET technology development.
Dewpoint Therapeutics has partnered with Pfizer (NYSE: PFE) to develop treatments for myotonic dystrophy type 1 (DM1), a rare genetic disorder. Dewpoint will receive an upfront payment and could earn up to $239 million in milestone payments if targets are met. Additionally, Dewpoint is set to receive royalties on any approved therapies. DM1 affects one in 8,000 to 20,000 individuals, leading to serious health issues. The collaboration aims to leverage biomolecular condensates to find novel solutions in treating this debilitating disease.