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Pfizer Secures Up to $1.5B Funding From Blackstone for Obesity Program
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Key Takeaways
Pfizer secures up to $1.5 billion from Blackstone to advance its monthly GLP-1 obesity candidate.
The funding will support 10 planned Phase III studies targeting obesity and related conditions.
Pfizer retains full control of berobenatide, with the first potential approvals targeted for 2028.
Pfizer (PFE - Free Report) announced a strategic co-funding agreement with Blackstone Life Sciences to support the development of berobenatide (PF'3944), its investigational monthly GLP-1 receptor agonist candidate, which is being developed for chronic weight management and obesity-related conditions.
Per the agreement, Blackstone will provide up to $1.5 billion to fund development costs for berobenatide through 2028. In return, Blackstone will be eligible to receive milestone-based payments, subject to U.S. regulatory approval of monthly injectable berobenatide monotherapy for chronic weight management and the achievement of certain commercial sales milestones.
Per the company, the milestone payments, if earned, will be made over multiple years. Importantly, Blackstone will not acquire any rights or ownership in berobenatide, while Pfizer will retain full operational control and decision-making authority related to the program.
The November 2025 acquisition of Metsera added berobenatide to Pfizer’s obesity pipeline. The deal also added other novel clinical-stage incretin and amylin programs, which are expected to generate billions of dollars in sales.
PFE Price Performance
Year to date, shares of Pfizer have surged 26.2% compared with the industry’s rise of 28.3%.
Image Source: Zacks Investment Research
More on PFE’s Berobenatide Development Activities
The funding agreement with Blackstone is expected to support Pfizer's extensive clinical development program for berobenatide, which is being evaluated as a potential first-in-class monthly GLP-1 receptor agonist peptide.
Pfizer plans 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Three phase III studies on berobenatide have already begun. Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028.
The company is also exploring berobenatide as a monotherapy and in combination with various Nutrient-Stimulated Hormone (NuSH) peptides, including amylin analogs.
The above agreement provides Pfizer with substantial external funding to advance berobenatide's clinical development through 2028. Importantly, Pfizer is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond.
Over the past 30 days, estimates for Vericel’s 2026 earnings per share have risen from 54 cents to 73 cents, while estimates for 2027 have increased from 84 cents to 96 cents during the same time. VCEL shares have surged 65.1% year to date.
Vericel’s earnings beat estimates in three of the trailing four quarters, while meeting the same on the remaining occasion, with the average surprise being 367.50%.
Over the past 30 days, estimates for Amneal’s 2026 earnings per share have risen from $1.03 to $1.06, while estimates for 2027 have increased from $1.16 to $1.21 during the same time. AMRX shares have rallied 72.3% year to date.
Amneal’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 27.21%.
Over the past 30 days, estimates for Collegium Pharmaceutical’s 2026 earnings per share have risen from $7.15 to $7.39, while estimates for 2027 have increased from $5.75 to $6.84 during the same time. COLL shares have plunged 46.4% year to date.
Collegium Pharmaceutical’s earnings beat estimates in three of the trailing four quarters, while missing estimates on the remaining occasion, with the average surprise being 10.53%.
View the Zacks #1 Rank List
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Pfizer Secures Up to $1.5B Funding From Blackstone for Obesity Program
Key Takeaways
Pfizer (PFE - Free Report) announced a strategic co-funding agreement with Blackstone Life Sciences to support the development of berobenatide (PF'3944), its investigational monthly GLP-1 receptor agonist candidate, which is being developed for chronic weight management and obesity-related conditions.
Per the agreement, Blackstone will provide up to $1.5 billion to fund development costs for berobenatide through 2028. In return, Blackstone will be eligible to receive milestone-based payments, subject to U.S. regulatory approval of monthly injectable berobenatide monotherapy for chronic weight management and the achievement of certain commercial sales milestones.
Per the company, the milestone payments, if earned, will be made over multiple years. Importantly, Blackstone will not acquire any rights or ownership in berobenatide, while Pfizer will retain full operational control and decision-making authority related to the program.
The November 2025 acquisition of Metsera added berobenatide to Pfizer’s obesity pipeline. The deal also added other novel clinical-stage incretin and amylin programs, which are expected to generate billions of dollars in sales.
PFE Price Performance
Year to date, shares of Pfizer have surged 26.2% compared with the industry’s rise of 28.3%.
Image Source: Zacks Investment Research
More on PFE’s Berobenatide Development Activities
The funding agreement with Blackstone is expected to support Pfizer's extensive clinical development program for berobenatide, which is being evaluated as a potential first-in-class monthly GLP-1 receptor agonist peptide.
Pfizer plans 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Three phase III studies on berobenatide have already begun. Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028.
The company is also exploring berobenatide as a monotherapy and in combination with various Nutrient-Stimulated Hormone (NuSH) peptides, including amylin analogs.
The above agreement provides Pfizer with substantial external funding to advance berobenatide's clinical development through 2028. Importantly, Pfizer is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond.
PFE’s Zacks Rank & Stocks to Consider
Pfizer currently carries a Zacks Rank #3 (Hold).
Some top-ranked stocks in the drug/biotech sector are Vericel (VCEL - Free Report) , Amneal Pharmaceuticals (AMRX - Free Report) and Collegium Pharmaceutical (COLL - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, estimates for Vericel’s 2026 earnings per share have risen from 54 cents to 73 cents, while estimates for 2027 have increased from 84 cents to 96 cents during the same time. VCEL shares have surged 65.1% year to date.
Vericel’s earnings beat estimates in three of the trailing four quarters, while meeting the same on the remaining occasion, with the average surprise being 367.50%.
Over the past 30 days, estimates for Amneal’s 2026 earnings per share have risen from $1.03 to $1.06, while estimates for 2027 have increased from $1.16 to $1.21 during the same time. AMRX shares have rallied 72.3% year to date.
Amneal’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 27.21%.
Over the past 30 days, estimates for Collegium Pharmaceutical’s 2026 earnings per share have risen from $7.15 to $7.39, while estimates for 2027 have increased from $5.75 to $6.84 during the same time. COLL shares have plunged 46.4% year to date.
Collegium Pharmaceutical’s earnings beat estimates in three of the trailing four quarters, while missing estimates on the remaining occasion, with the average surprise being 10.53%.