Pfizer Secures $1.5 Billion Blackstone Deal for Obesity Drug
Pfizer partnered with Blackstone Life Sciences to fund the development of berobenatide, an investigational monthly weight-management drug, through 2028.
Pfizer entered a strategic co-funding agreement with Blackstone Life Sciences to secure up to $1.5 billion for the development of berobenatide through 2028. Berobenatide is an investigational once-monthly GLP-1 receptor agonist peptide designed for chronic weight management and obesity-related conditions, including knee osteoarthritis and obstructive sleep apnea.
Under the terms of the deal, Pfizer maintains full ownership, operational control, and decision-making authority over the program. Blackstone is eligible for milestone-based payments if the drug receives U.S. regulatory approval as a monthly injectable monotherapy and meets specific commercial sales targets. This arrangement expands a previous 2023 partnership between the two firms valued at up to $550 million.
Pfizer plans to advance more than 20 trials for obesity and related comorbidities in 2026, which includes ten phase 3 trials for berobenatide. Chief Financial Officer Cecile Guegan stated that the agreement allows the company to advance its obesity program while maintaining the financial capacity to invest in other therapeutic areas.
