Pfizer deepens commitment to genetic-drug future with deals
Pfizer deepened its commitment to the genetic approach to disease underpinning its Covid-19 vaccine on Monday, striking deals that will give access to three smaller companies' technology in the area.
In the biggest of the trio, the drug giant agreed to pay as much as $1.35 billion, including $300 million upfront, to Beam Therapeutics to partner on a technique for editing DNA. Two other deals will give Pfizer access to technology for synthesizing genetic material and delivering it to cells.
"Clearly this is one of the top priorities that Pfizer and I myself have for this year," said CEO Albert Bourla in an interview with Bloomberg Television. The New York-based drugmaker will "invest a lot of capital that has accumulated" through the sales of its Covid-19 vaccine back into this space, Bourla said...