It looks like Pfizer is finally putting some much-needed money into research and development. Pfizer’s not investing internally, of course; it’s just buying another biotech firm in an attempt fill its dwindling pipelines.
This time it’s the privately held BioRexis Pharmaceutical Corporation. According to the Pharma Gazette:
Not disclosing the financial terms of agreement, Pfizer, Inc. is going to acquire BioRexis. Expected to close during the first or second quarter of this year, the acquisition agreement will enable Pfizer an access to BioRexisÃ¢â‚¬â„¢ early stage diabetes pipeline and proprietary protein engineering technologies.
For more information, check out the press release.48