Pfizer (PFE)

Pfizer (PFE)

Pfizer has inked a deal with German biotech firm BioNTech valued at up to $425 million for the development of more effective influenza jabs.

Privately-held BioNTech will receive $120 million upfront plus up to $305 million depending on certain development achievements

In a joint statement, Pfizer & Astellas Pharma said they are changing protocols for two late-stage trials testing prostate cancer drug Xtandi in order to speed up completion.

The companies now expect the ARCHES trial to end late this year, well ahead of the previously anticipated completion date of April 2020.

The EMBARK trial to complete by mid-2020, earlier than the prior goal of March 2021.

Both trials are testing Xtandi in men with hormone-sensitive prostate cancer.

Pfizer has received FDA approval for its once-daily oral Vizimpro to treat patients with a rare non-small cell lung cancer.

Pfizer CEO Ian Read will step down in early 2019. Current Chief Operating Officer Albert Bourla will move to CEO. Read will become executive chairman of Pfizer's board.

JP Morgan has raised the Pfizer price target to $46 a share from $42 on an expectation of accelerating growth in the 2021 to 2025 period.

Pfizer is reporting adjusted earnings of $0.78 per share on revenues of $13.3 Billion for the quarter ending September 2018.

Analysts expected $0.75 per share on $13.53 Billion in sales.

Pfizer suggested it expects to purchase an additional $3 Billion of outstanding shares in Q4.

Pfizer is reporting that the US Food and Drug Administration has approved Lorbrena for the treatment of non-small cell lung cancer in patients with the ALK gene mutation.

Pfizer is reporting that the US Food and Drug Administration has approved the Vyndaqel and Vyndamax brand tafamidis treatments for rare heart disease caused by transthyretin mediated amyloidosis.