Pfizer continues spending spree with $295M upfront for PhIII growth hormone

December 15, 2014 1:41 PM

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Pfizer's business development team is on a spending spree. Today the pharma giant ($PFE) said it is partnering with Miami-based Opko Health ($OPK) on a Phase III long acting growth hormone, paying $295 million upfront and promising up to $275 million more on regulatory milestones.

The deal comes just weeks after Pfizer made an $850 million upfront payment to partner with Merck KGaA on a preclinical immuno-oncology program, marking the highest upfront ever paid in an industry licensing deal. Stymied by AstraZeneca ($AZN) in its frustrated attempt earlier this year to complete ...

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