From CNBC:

Pfizer shifts focus from Covid to cancer drugs, hopes to counter lost market value. Following Seagen acquisition, company expects to produce 8 blockbuster drugs by 2030. Strategic shift towards biologic drugs aims to maintain competitive edge and counteract upcoming patent losses and pricing pressures. Development of new cancer treatments in progress.

Oncology unit led by experienced Pfizer executive Chris Boshoff, focuses on long-term strategy through 2030. Pfizer predicts two-thirds of oncology revenue from new drugs and new indications by the decade’s end. Seagen acquisition expected to bring $10 billion in sales by 2030, with biologic drugs taking center stage in pipeline strategy.

Pfizer to prioritize biologic drugs, aiming to increase revenue potential in competitive market. Strategic shift from small-molecule drugs could offer better protection against competition and pricing pressures. Company investing in biologics to capitalize on market trends and ensure sustainable revenue growth. Development of bispecific antibodies and ADCs key in Pfizer’s oncology drug portfolio.



Read more at CNBC: Pfizer is betting big on cancer drugs after Covid decline