Pfizer and Clear Creek Bio collaborate to develop an oral COVID-19 medication

On Tuesday, Pfizer and Clear Creek Bio announced a collaboration to explore a possible therapeutic candidate and develop a new class of oral treatment for COVID-19 as part of Pfizer’s efforts to expand its anti-infective portfolio.

Charlotte Allerton, the chief scientific officer at Pfizer, stated that COVID-19 “has the potential to remain a worldwide health concern for many years to come.”

Pfizer already possesses the COVID antiviral medication Paxlovid, which is anticipated to produce almost $22 billion in revenue this year.

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Several acquisitions have bolstered Pfizer’s portfolio. This year, it has announced purchases of Biohaven Pharmaceutical Holding Co and Global Blood Therapeutics for $11.6 billion and $5.4 billion, respectively, and created a partnership with Roivant Sciences to develop an experimental cure for bowel disease.

Under the agreement with Clear Creek Bio, the pharmaceutical behemoth will pay an undisclosed sum in addition to additional milestone payments and royalties on future product sales.