Pfizer Makes Major Moves with 3SBio Deal and Dividend Increase

Published 2 hours agoPFE

Pfizer Makes Major Moves with 3SBio Deal and Dividend Increase

Pfizer has reached a major licensing agreement with Chinese biotech company 3SBio for a promising bispecific cancer drug, SSGJ-707. The deal involves a $1.25 billion upfront payment and potential milestones worth up to $4.8 billion. In addition, Pfizer plans to invest $100 million in 3SBio, gaining rights to the drug outside China, with Phase III trials set to kick off in China later this year, according to Axios.

In another key development, Pfizer announced an increase in its quarterly cash dividend to $0.43 per share for the first quarter of 2025. This will mark its 345th consecutive quarterly dividend, reinforcing the company's robust financial health and its ongoing dedication to delivering shareholder value, as stated in a company press release.

Furthermore, Pfizer is pushing forward with a new cost-cutting initiative aimed at trimming approximately $1.5 billion from its expenses by 2027. This plan includes changes to operational processes, network structures, and product lines. Alongside these financial strategies, Pfizer continues to focus on oncology research, highlighting more than 60 presentations at the upcoming ASCO Annual Meeting, showcasing its significant progress in cancer treatment research.

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