Pfizer Seizes Long-Term Immuno-Oncology Opportunity With Merck Deal
This article was originally published in The Pink Sheet Daily
Pfizer partnered with Germany’s Merck KGAA to develop and commercialize an anti-PD-L1 checkpoint inhibitor in clinical development, paying $850 million upfront to catch up to the competition.
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The arrangement ends a nearly 10-year collaboration between Pfizer and Merk KGaA on the PD-L1 inhibitor that, despite some success, never reached its ultimate goal.
Pfizer was heavily invested in immuno-oncology combinations five years ago, but following setbacks, the pipeline has shifted considerably, shaped partly by the acquisition of Array.
After entering three drug candidates to clinical stage, securing first round financing and obtaining milestone payments from Merck Serono, BeiGene has eyed unveiling a cancer immunology pipeline and a potential listing on the NASDAQ.