Nicholas Galakatos

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Blackstone to fund up to $1.5 billion of Pfizer's monthly obesity drug trials

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Pfizer has agreed to let Blackstone Life Sciences pay up to $1.5 billion of the development costs for berobenatide, an experimental weight-loss drug injected once a month. The money covers as many as 10 Phase 3 trials through 2028. Pfizer keeps full control of the program and gives up no ownership of the drug.

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