Pfizer Moves Over Half a Billion for Wilson Disease Treatment

Health and Healthcare

Published: March 20, 2019 11:29 am

Last Updated: January 30, 2020 11:11 pm

Pfizer Inc. (NYSE: PFE) has announced that it has acquired a 15% equity interest in Vivet and secured an exclusive option to acquire all outstanding shares. Pfizer is looking to collaborate with Vivet on the development of VTX-801, Vivet’s proprietary treatment for Wilson disease.

Wilson disease is a devastating, rare, chronic, and potentially life-threatening liver disorder of impaired copper transport that causes serious copper poisoning. This disease may result in various combinations and severity of hepatic (fibrosis and cirrhosis), neurologic and psychiatric symptoms, which can be fatal, that can only be cured by liver transplantation. Existing therapies for Wilson disease have sub-optimal efficacy or significant side effects for many patients.

Under the terms of the transaction, Pfizer paid approximately €45 million ($51 million) upon signing and may pay up to €560 million ($635.8 million) inclusive of the option exercise payment and subject to certain clinical, regulatory, and commercial milestones.

At any point, Pfizer can exercise its option to acquire 100% of Vivet following the company’s delivery of certain data from the Phase 1/2 clinical trial for VTX-801.

Mikael Dolsten, Pfizer’s chief scientific officer and president or Worldwide Research, Development and Medical, commented:

Pfizer strives to provide meaningful enhancements to the lives of patients with rare diseases. Our partnership with Vivet offers an important expansion of Pfizer’s commitment to collaborate with the scientific community and to accelerate our leading AAV-directed gene therapy portfolio.

Shares of Pfizer were last seen down about 1% at $41.94 on Wednesday, in a 52-week range of $34.32 to $46.47. The consensus price target is $44.14.

ALSO READ: 5 Goldman Sachs Conviction List Stocks Have Gigantic Implied Upside

Take Charge of Your Retirement In Just A Few Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.

Here’s how it works:

Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!