Pfizer is coming, therefore biotech companies around the world should clean up their store windows, clean up their benches, and straighten up their lab coats, flush with cash from the breakthrough COVID-19 vaccine Comirnaty, has been said to be interested in purchasing something. With the $6.7 billion purchase of Arena Pharmaceuticals by the New York Big Pharma, a portion of that reward was distributed today. On an investor call this morning, officials discussed how the biotech will fit into Pfizer portfolio and gave a sneak peek at what else they desire.
According to Aamir Malik, executive vice president and chief business innovation officer, Pfizer wants to be “thoughtful and strict about resource allocation.” However, the company has set two acquisition goals for the future: appealing later-stage assets that can generate income in the second half of the decade and potential medical breakthroughs in the first half of the decade. According to Malik, the company has “considerable firepower” to engage in M&A and wants to “be very aggressive in deal-making.”
Also, don’t count out a mega-deal just yet: Pfizer, according to Malik, is ready to seize a bigger opportunity if one arises. PwC estimated last week that several significant transactions worth $50 billion or more will take place next year.will strive to add any data and technology that will help accelerate the delivery of medications and provide value to patients, in addition to external M&A.
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