Could Pfizer Ultimately Be the Biggest Winner in the $100 Billion Weight-Loss Market?
It is definitely a strong contender.
Overview
Pfizer (NYSE: PFE) has not performed well in recent years, as demand for its coronavirus products has plummeted. Meanwhile, several of the company's newer launches haven't made much of an impact on its financial results, while it is racing toward an important patent cliff -- that of Eliquis, an anticoagulant and one of its best-selling drugs -- by the end of the decade. However, management has a plan to turn things around. Pfizer has a deep pipeline that could help it rejuvenate its lineup. One area the company hopes to dominate is the weight management drug market, which is growing rapidly and could exceed $100 billion in sales by the next decade. Could Pfizer become the leader in this niche?
Image source: The Motley Fool.
Pfizer had to discontinue the development of some of its internally developed anti-obesity products due to safety concerns. But it beefed up its pipeline thanks to an acquisition. In November, the pharmaceutical leader bought Metsera, a biotech with several promising weight-loss candidates, for $7 billion in cash (excluding potential additional milestone payments). Pfizer inherited Metsera's lead weight-loss asset, MET-097i, a GLP-1 medicine that appears highly promising.
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Originally published at www.fool.com.