news/AMGN/2023.01.05/Pfizer explores options for some rare disease, cancer drugs.txt

(Corrects to say value for Global Blood Therapeutics deal is
$5.4 billion, not $4.5 billion, in paragraph 7)Jan 6 (Reuters) - Pfizer Inc is exploring
options for some early-stage treatments for rare diseases and
cancer in a bid to focus on "high-impact" medicines and
vaccines, the company said on Thursday.The U.S. drugmaker said these options included
collaborations with other drug developers for these medicines,
or establishing a new company.Pfizer now plans to focus on internally developing rare
disease treatments using technologies such as gene editing, it
said, while exploring external opportunities for early-stage
gene therapy programs and its cancer-focused research facility
in Boulder, Colorado.It would also seek to externally advance its gene therapy
facility in Durham, North Carolina, the drugmaker said.That would free the company, which has been investing
heavily in its internal pipeline of medicines and striking deals
to boost revenue, to focus its internal portfolio of
experimental treatments to areas where the company thinks it is
"best-positioned"."We believe these actions will position us to lead the
industry in reaching more patients," a company spokesperson said
in an emailed statement, adding that depending on the
externalization approaches taken, Pfizer may maintain ties to
some of these programs through strategic investments.Pfizer in August 2022 announced a $5.4 billion deal for
sickle cell disease drugmaker Global Blood Therapeutics,
months after its $11.6 billion deal for Biohaven Pharmaceutical
Holding.Financial newspaper Barron's first reported on Pfizer's
plans on Thursday.
(Reporting by Manas Mishra, Akriti Sharma, Abinaya
Vijayaraghavan and Shubhendu Deshmukh in Bengaluru; Additional
reporting by Akanksha Khushi; Editing by Sherry Jacob-Phillips
and Nivedita Bhattacharjee)