Pfizer secures up to $1.5 billion from Blackstone for obesity drug development

Pfizer has secured up to $1.5 billion from Blackstone to fund the development of berobenatide, an experimental monthly injectable obesity treatment. The funding, provided through 2028, will not grant Blackstone any rights or ownership in the drug but will make them eligible for milestone-based payments tied to regulatory approval and commercial sales. This deal offers Pfizer greater flexibility to invest in its broader pipeline while retaining full control over the obesity medication's development.