Pfizer, Blackstone Strike $1.5B Obesity Drug Funding Deal
Pfizer and Blackstone Life Sciences have reached a co-funding agreement providing up to $1.5 billion through 2028 for development of berobenatide, an investigational monthly GLP-1 receptor agonist for chronic weight management, according to a Nov. 11 news release. Blackstone-managed funds will cover development costs in exchange for payments tied to U.S. regulatory approval and commercial sales milestones, distributed over multiple years; Blackstone will not acquire rights or ownership in the drug, and Pfizer retains full operational control. Pfizer plans to advance more than 20 clinical trials targeting obesity and related conditions in 2026, including 10 ongoing and planned phase 3 trials of berobenatide, which is also being studied for knee osteoarthritis and obstructive sleep apnea.