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Pfizer said on Tuesday it will pay $11.6 billion to buy Biohaven Pharmaceuticals, making a big bet on its ability to boost sales of the top-selling pill in a new class of migraine drugs. The boards of both companies have approved the deal, they said. Biohaven shares jumped 70 per cent to $141.31, while Pfizer was up slightly at $48.83. Pfizer is flush with cash from a once-in-a-lifetime surge in revenue from Covid-19 vaccines and therapeutics and has said it is looking to buy companies or drugs that could add at least $25 billion in annual sales by the end of the decade. "The CGRP oral medications, though still somewhat newer entrants in a deeply entrenched space, continue to make steady inroads in disrupting the broader migraine market in the U.S.," said BioHaven chief executive Vlad Coric. Biohaven forecast Nurtec sales of $825 million to $900 million in 2022. Pfizer said it expects the pills to eventually overtake the shots.

Pfizer's plan to sell its Haleon stake is not a surprise, the consumer health company's finance chief Tobias Hestler told Reuters on Wednesday (3 May). London-listed Haleon was carved out as an independent company in July and comprises consumer health assets once owned by GSK and Pfizer. Pfizer, which has a 32% stake in the maker of Sensodyne toothpaste and Panadol painkillers, told the Financial Times on Tuesday that it intends to offload that stake in a "slow and methodical" manner within months. Hestler said Pfizer has long been clear about its intention to sell off the stake, suggesting that the reason the potential of the selloff has gained traction is because the selling window opens around the time that Haleon's results are announced. "This will happen every quarter from now until they're sold off…this is just what's expected," he said, adding: "If I get a courtesy call the evening before they do it then that would be nice, but they don't even have to do that." Shares of the world's biggest standalone consumer health business were down more than 3% in early trading.

Pfizer has recalled all stocks of Accupro - including 5mg, 10mg, 20mg, 40mg film-coated tablets - as a precautionary measure due to the identification of a nitrosamine above the acceptable limit. "Following testing, N-nitroso-quinapril, has been observed at a level above the acceptable limit. Nitrosamines may increase the risk of cancer if people are exposed to them above acceptable levels and over long periods of time. The recall is at pharmacy and wholesaler level," the Pharmaceutical Services Negotiating Committees (PSNC) reported. The Department of Health and Social Care (DHSC) said: "All strengths of quinapril (Accupro) tablets have been recalled with a resupply date to be confirmed. Pfizer are the sole supplier of quinapril tablets in the UK. Alternative ACE inhibitors remain available and can support an uplift in demand."

Shares in GSK, Sanofi, Haleon and Pfizer began to recover on Friday (Aug 12) after the companies said that nothing material had changed regarding US litigation focused on heartburn drug Zantac. The companies' share prices had fallen sharply last week on investor concern about the litigation over potential cancer-causing impurities that prompted the drug's withdrawal from markets in 2019 and 2020. More than 2,000 Zantac-related legal cases have been filed in the United States, analysts say, with the first trial beginning this month. The prospect of impending Zantac litigation is not new. Among other disclosures, recently listed Haleon had highlighted the risk of such lawsuits in its prospectus. GSK, Sanofi, Pfizer and Haleon have lost a combined $39 billion from their market value over the past week in the absence of any other particular catalyst, according to Barclays analysts.

Susan Rienow, UK Managing Director and Country President of Pfizer is all set to take up her role as President of the Association of the British Pharmaceutical Industry (ABPI). The association had announced her appointment in March. Last year in September she was appointed as the vice-president of ABPI. In her new role, she will oversee the ABPI, the ABPI Board, and the ABPI's Code of Practice, which is administered by the Prescription Medicines Code of Practice Authority (PMCPA). Susan takes up the Presidency as negotiations begin for a new Voluntary Scheme for branded medicines pricing between the government, NHS England and the ABPI. All parties are looking to secure a new agreement that will help improve patient outcomes, support a healthier population and a financially sustainable NHS, while also supporting economic growth for the UK.

Consumer goods giant Unilever signalled on Monday (January 17) it would pursue a deal for GlaxoSmithKline's consumer healthcare business, calling it a "strong strategic fit" after its £50 billion offer was refused. GSK confirmed on Saturday that it had rejected three approaches from the Dove-soap maker, adding it intended to stick to its own plan to spin off the business as a separate company later this year. "GSK Consumer Healthcare would be a strong strategic fit," Unilever said in a statement as it unveiled a strategy update in the wake of the weekend's takeover news. Unilever said it was "committed to accelerating the company's growth and repositioning the portfolio into higher growth categories. "As a result of the reporting of Unilever's interest in GSK Consumer Healthcare, we are today bringing forward a planned update, setting out the strategic direction that the company is pursuing," Unilever said.

Pfizer's oral Covid-19 therapy will be evaluated as a potential treatment for patients hospitalised with the illness in a major British trial, scientists said on Monday, as cases rise in some parts of the world. The world's largest randomised study of potential medicines for Covid-19, dubbed the RECOVERY trial, will assess Paxlovid across hospitals in Britain, which has already approved the drug for early-stage treatment. "Paxlovid is a promising oral antiviral drug but we don't know if it can improve survival of patients with severe Covid-19," said Peter Horby, a professor at the University of Oxford and joint chief investigator of the RECOVERY trial. The scientists said they aim to mainly find whether Pfizer's Paxlovid reduces the risk of death among patients admitted to hospitals with Covid-19.

The NHS has signed the first-of-its-kind subscription deal for two antimicrobial drugs - cefiderocol and ceftazidime-avibactam, manufactured by Shionogi and Pfizer respectively - that will help around 1700 patients per year with severe bacterial infections. Under this deal, pharmaceutical firms will receive a fixed yearly fee - capped at a level that represents value to taxpayers - in order to incentivise funding for innovation that can generate a pipeline of new antibiotics for NHS patients. NHS said the deal will help patients with serious infections that have evolved so much that antibiotics and other current treatments are no longer effective can be given a potentially life-saving alternative. The drugs will provide a lifeline to patients with life-threatening infections like sepsis, hospital or ventilator pneumonia and blood stream infection. Announcing the deal at NHS ConfedExpo, NHS Chief Executive Amanda Pritchard called the revolutionary subscription deal a game-changer and the latest NHS success in using its commercial power to benefit NHS patients in line with the NHS Long Term Plan. "Superbug-busting drugs on the NHS will save lives and strike a blow in the global battle against antimicrobial resistance," Pritchard said.

Clinical trials for BioNTech's cancer vaccines should start this year in Britain, marking an important step towards their possible sale on the open market, the German company's top executive Ugur Sahin told magazine Der Spiegel. BioNTech, known for its COVID vaccine with U.S. partner Pfizer, is currently deciding which types of cancer it wants to test its personalized cancer immunotherapies on and the locations where it will conduct the trials, Sahin said. The company wants these therapies, which are based on messenger RNA (mRNA) technology similar to the one that underpins its COVID-19 vaccine, to soon become a regular treatment for cancer patients. "We believe that this should be possible for large amounts of patients before 2030," Sahin said.

Britain's GlaxoSmithKline will receive $1.25 billion (about £921 million) from Gilead Sciences as part of a settlement between its HIV medicines unit and the US-based drugmaker, ending a long-drawn patent dispute. The settlement, announced by GSK on Tuesday (February 1), relates to Gilead's antiretroviral drug Biktarvy, a medicine used to check the AIDS-causing virus, which GSK said in 2018 infringed on its unit ViiV Healthcare's dolutegravir and other similar compounds. HIV medicines developed by ViiV, in which Pfizer and Japan's Shionogi also hold small stakes, are a major part of GSK's plan to support its lagging pharmaceuticals business as it readies to spin off its consumer healthcare arm. The payment is expected to be made in the first quarter this year, London-listed GSK said. Gilead will also pay a 3 per cent royalty until 2027 on sales of Biktarvy and on future US sales of any product containing its main component.

The Association of the British Pharmaceutical Industry (ABPI) has announced that Pinder Sahota has decided to step down as President of the ABPI. ABPI stated that he has made this decision to "avoid an ongoing process around a Novo Nordisk ABPI Code of Practice breach becoming a distraction from the vital work of the ABPI". Richard Torbett, Chief Executive, ABPI, said: "Pinder is a passionate advocate for the industry, and I want to thank him for his valuable contribution as ABPI President. "I fully respect Pinder's decision to step down as ABPI President which will in no way affect the ongoing case relating to Novo Nordisk. Any breach of the ABPI Code is taken extremely seriously and it is essential that all regulatory actions are robust, fair and transparent." ABPI Vice-President, Susan Rienow, Country President of Pfizer, will temporarily take on the roles and responsibilities of the ABPI President until a new President is chosen by the ABPI Board.