Pfizer (PFE) has agreed to buy a minority stake in Japan’s algERT pharmaceuticals.
The Japanese drugmaker has been working to develop a drug that would treat people with severe chronic hepatitis C. Pfizer, which also makes the drug ZMapp, said the deal will give it access to the company’s R&D and clinical development efforts.
algERNON, founded in 2009, is a leader in the treatment of severe chronic liver disease, or cirrhosis, in people with advanced liver disease.
Its product is currently available in Europe, the United States and Japan.
The deal will add Pfizer to algerton pharmaceuticals’ pipeline of hepatitis C drugs, which are used to treat patients with cirrhotic cirrhoses.
The two companies also have a drug, ZMap, that was approved by the FDA for the treatment.
algtort, which makes algercolib, said it will retain a 35% stake in algert, as well as a 25% stake and 2.5% ownership of algERCOLIB.
algaMEX, the world’s largest global drugmaker, announced last month that it would buy AlgernON from Pfizer for $14 billion.
AlgaMex said it would take a 35%-50% stake.
algurun, the leading global pharmaceuticals company, said last month it would merge with Algert.
Algurun is also a key player in Pfizer’s hepatitis C vaccine program, which has seen more than $400 billion in investment.