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This $5 Billion Biotech Home Run Took Less Than a Year
  + stars: | 2023-10-24 | by ( David Wainer | ) www.wsj.com   time to read: 1 min
Ownership of the drug went from Pfizer to Roivant and then to Roche with stunning speed. Photo: Stefan Wermuth/Bloomberg NewsYou can’t completely blame Pfizer ’s executives, yet Roche ’s $7 billion acquisition of a bowel-disease treatment that it owned until last year isn’t a great look. In a deal that now feels like a biotech version of “Moneyball,” Roivant announced it was selling an asset that only 11 months ago it got for free from Pfizer. Big pharma companies focused on the drug industry equivalent of free agent signings will often overlook one of their own hot prospects. In fact, Republican presidential candidate Vivek Ramaswamy founded Roivant on the idea that pharma’s trash can be another company’s treasure.
Persons: Roche, Stefan Wermuth, Pfizer ’, ” Roivant, Vivek Ramaswamy, Roivant Organizations: Pfizer, Roivant, Bloomberg, Street Journal, Big pharma, Republican
Pfizer reaffirmed its outlook to see revenue decline by as much as a third this year from its record high $100 billion in 2022. Photo: Gabby Jones for The Wall Street JournalPfizer ’s first-quarter revenue and earnings were down by nearly a third from a year ago, when the spread of the Omicron variant of Covid-19 buoyed demand for pandemic products. The drugmaker for the first three months of the year logged revenue of $18.28 billion, down 29% from a year ago but still well above Wall Street analyst estimates for $16.61 billion, according to analysts polled by FactSet.
Pfizer Hasn’t Moved Past the Pandemic Just Yet
  + stars: | 2022-11-01 | by ( David Wainer | ) www.wsj.com   time to read: 1 min
Pfizer ’s stock has gone from being a star in 2021 to a pharma laggard this year. Much of that has to do with the trajectory of the pandemic. Like no other large company in the U.S., Pfizer’s story has become uniquely tethered to Covid-19. Its two top products, the Covid-19 vaccine and the antiviral pill Paxlovid, are now expected to generate $56 billion in sales this year, Pfizer said Tuesday, raising the outlook for the vaccine by $2 billion. That represents around half of total sales, which the company on Tuesday predicted will come in the $99.5 billion to $102 billion range.
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