Apart from Pfizer’s (PFE) product developments, some recent pipeline and corporate developments include the following:
- In January 2017, ICU Medical modified the merger agreement with Pfizer to acquire Hospira’s global infusion systems business announced in October 2016 and reduced the purchase price to $900 million compared to the $1 billion as per the original agreement.
- Pfizer completed the acquisition of the small molecule anti-infective business from AstraZeneca (AZN) in December 2016 to strengthen its anti-infective business.
- On February 17, 2017, Pfizer and Celltrion Healthcare released data for a randomized 54-week clinical trial that met its primary endpoint and showed that at six weeks, the drug Inflectra (infliximab CT-P13) has a similar efficacy and safety profile as the drug Remicade (infliximab) for the treatment of Crohn’s disease.
- On February 16, 2017, Pfizer announced the top-line results from the ORAL strategy trial evaluating Xeljanz (tofacitinib citrate) for the use in the treatment of severe rheumatoid arthritis compared to AbbVie’s (ABBV) Humira (adalimumab).
- On January 5, 2017, Pfizer announced that the REFLECTIONS B538-02 study evaluating the drug PF-06410293 in combination with methotrexate for the treatment of rheumatoid arthritis met its primary endpoint in January 2017. The drug is a potential biosimilar of AbbVie’s (ABBV) Humira.
To divest the risk, investors can consider ETFs like the iShares S&P Global Healthcare ETF (IXJ), which holds 4.9% of its total assets in Pfizer, 4.4% of its total assets in Merck (MRK), 3.1% of its total assets in Amgen (AMGN), and 2.5% of its total assets in AbbVie (ABBV).