Innovent (HK:1801) Shares Rise 10% After $10.5 Billion Pfizer Deal
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowShares of Innovent Biologics (HK:1801) increased by 10% following a deal with Pfizer valued up to $10.5 billion for the development of oncology medicines. The agreement includes an upfront payment of $650 million and up to $9.85 billion in milestone payments. Innovent will collaborate on four global programs, co-commercializing in the U.S. and Europe while retaining rights in Greater China. These developments come as partnerships between biotech and pharmaceutical firms are critical in addressing oncology disease concerns globally.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Pfizer Inc. (PFE)
Pfizer is one of the world’s largest pharmaceutical companies, developing vaccines and medicines across many therapeutic areas.
The Health Care sector covers pharmaceutical, biotech, device and managed-care companies.
Earlier PFE news
- Pfizer (PFE) Lacks Earnings Momentum According to Analyst Jim Cramer
- Pfizer (PFE) Stock Down Over 50% from 2021 High Amid Challenges
- Pfizer (PFE) Receives FDA Approval for Veppanu Breast Cancer Drug
- Bristol Myers (BMY) Q1 profits rise 4% with $11.49 billion revenue
- Pfizer (PFE) GLP-1 Drug Shows 10%-12% Weight Loss in Trials
Get the weekly market brief
One email every Monday: what moved, why, and what to watch. Free, unsubscribe anytime.
Get stories like this as they break
Our Telegram channel posts every market story the moment it is published. Free, and you can mute or leave anytime.
