Pfizer’s Strategic Oncology Expansion Post-Seagen Acquisition
March 1, 2024
Pfizer aims to bolster its oncology portfolio by targeting at least eight cancer blockbuster drugs by 2030, following its $43 billion acquisition of Seagen. This move integrates antibody-drug conjugate (ADC) expertise into its cancer division. This strategy is part of Pfizer’s effort to rejuvenate investor interest amid declining COVID-19 sales and a significant stock price drop in 2023. With three oncology blockbusters as of December 31, including Ibrance and Xtandi, Pfizer faces challenges like patent expirations but anticipates a shift towards biologics, which could account for 65% of its cancer portfolio by 2030. The company’s focus includes genitourinary, blood, breast, and lung cancers, employing ADCs, small molecule medicines, and bispecific antibodies. Notably, the ADC Padcev has shown promising results, nearly doubling survival times in bladder cancer patients in combination with Keytruda, leading to swift FDA approval. Pfizer’s oncology direction underlines a significant commitment to advancing cancer treatment and enhancing its market position.
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[Source: Endpoints, March 1st, 2024]
