Blackstone commits up to 1.5 billion dollars to Pfizer obesity research
Pfizer and Blackstone Life Sciences agreed to share development funding for the investigational obesity treatment berobenatide. Blackstone funds will provide up to 1.5 billion dollars through 2028. Potential payments back to Blackstone depend on US approval and sales milestones, while Pfizer retains the drug’s rights and control of development decisions.
Economics & Markets··Morning
Funding extends through 2028
Pfizer and Blackstone Life Sciences agreed to co-fund the berobenatide obesity development programme.[1], [2]
Pfizer and Blackstone Life Sciences announced a co-funding agreement on 11 November for the investigational obesity treatment berobenatide. Funds managed by Blackstone will cover up to 1.5 billion dollars of development expenditure through 2028. The programme studies potential monthly dosing for chronic weight management and obesity-related conditions. The commitment shares research expenditure while the medicine remains in development.[1]
Payments depend on approval and sales
Blackstone will be eligible for milestone payments if the contractual conditions are met. These include US regulatory approval for monthly dosing of injectable berobenatide on its own for chronic weight management, as well as specified commercial sales milestones. Payments earned under the agreement will be spread over several years. Blackstone acquires no ownership or rights in berobenatide, and Pfizer keeps operational control and decision-making authority.[1]
Pfizer plans a wider obesity programme
Pfizer said it planned more than twenty studies in obesity and related conditions during 2026, including ten ongoing or planned phase-three studies of berobenatide. Those late-stage studies form part of its cardiometabolic development work. Funds managed by Blackstone’s perpetual private-equity strategy BXPE will invest alongside Blackstone Life Sciences funds.[1]
