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Pfizer Joins Virus Vaccine Hunt in Partnership With German Drugmaker [Yahoo! Finance News]

Pfizer, Inc. (PFE) 
Last pfizer, inc. earnings: 4/28 06:45 am Check Earnings Report
U.S. drugmaker Pfizer Inc. PFEBNTXUnder the terms of the partnership, Pfizer will pay BioN $185 million upfront to develop the vaccine including an equity investment of about $113 million, with additional payments if certain milestones are achieved that could take its total investment to nearly $750 million, the two companies said in a joint statement.They plan to start clinical trials of the vaccine as early as the end of this month, subject to regulatory clearance. Development of the potential drug will commence in the U.S. and Europe and then across multiple sites, they said. Pfizer will help manufacture any potential drug product and said it aims to produce hundreds of millions of vaccines next year.Moreover, Pfizer and BioN will share development costs equally. Initially, Pfizer will fund 100% of the development costs, and BioN will repay Pfizer its 50% share of these costs during the commercialization of the vaccine.In a separate statement, Pfizer said that the drugmaker was als Show less Read more
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