Blackstone Backs Pfizer's Obesity Bet as Analysts Turn More Bullish
Published on 11/12/2026 at 05:32 | Editorial boerse-global.de
Pfizer has lined up outside capital for one of its most closely watched pipeline candidates. The drugmaker and Blackstone Life Sciences struck a deal to fund development of berobenatide, an experimental obesity treatment, with Blackstone-managed funds set to cover as much as $1.5 billion in development costs through 2028.
In return, Pfizer said Blackstone stands to collect milestone-linked payments tied to regulatory approval and commercial targets. The arrangement covers a medicine still under review rather than an approved product, leaving the payoff contingent on clinical and regulatory success. Investors greeted the news with a measured lift: Pfizer shares gained 1.0% and closed at €26.55.
The financing comes as Pfizer keeps spending on its own manufacturing footprint. On November 5 the company said it would commit $650 million over five years to a new Manufacturing Technology Center in Groton, Connecticut. The 220,000-square-foot site is designed to produce active ingredients and medicines for clinical trials, with construction expected to begin in the second quarter of 2027.
Raised Guidance Draws Fresh Targets
Pfizer's third-quarter 2026 results, released November 3, gave analysts something to work with. Revenue came in at $16.6 billion, while adjusted diluted earnings per share reached $0.87. On an operational basis, sales were broadly flat year over year. Reuters pointed to robust demand for Padcev and Eliquis as the main drivers.
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Management lifted its full-year 2026 revenue forecast to a range of $62.0 billion to $64.0 billion, and now expects adjusted diluted EPS of $2.95 to $3.05 for the same period.
Freedom Broker responded on Friday by raising its price target to $34 from $33, according to media reports, while keeping its buy rating. Guggenheim had already moved a day earlier, lifting its target to $33 from $31 and likewise maintaining a buy recommendation. Neither firm changed its rating alongside the higher targets.
Pipeline Data and a Date in London
Clinical news has added to the momentum. On October 27 Pfizer reported positive phase 3 results from the MagnetisMM-32 study of ELREXFIO in patients with relapsed or refractory multiple myeloma following treatment with an anti-CD38 therapy and lenalidomide.
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On the leadership side, Pfizer named Cecile Guegan as chief financial officer and executive vice president roughly a week ago. CEO Albert Bourla is due to appear at the Jefferies London Healthcare Conference on November 17, 2026, at 9:00 GMT, with the company providing webcast access for those who want to follow the session.
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