Share it now!!

Pfizer, the world’s largest drug company, is going to try its hand at picking biotech stocks.

The New York pharma giant has set aside up to $500 million that it will invest in publicly traded companies with drugs in the clinic. Pfizer would take non-controlling stakes, with a focus on companies with small to medium market values. The program, called the Pfizer Breakthrough Growth Initiative, would give companies access to the company’s scientists, clinicians, and manufacturing experts, if they want it.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

STAT Plus is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis.
Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What’s included?

This content was originally published here.