A post by @FirstSquawk on X.

Pfizer and Blackstone Life Sciences announced a strategic funding agreement under which Blackstone will provide up to $1.50 billion through 2028 to support Pfizer’s obesity program, while Pfizer retains full operational control of its berobenatide program. The deal channels outside capital into Pfizer’s metabolic-disease pipeline without diluting its decision-making authority over the candidate. The arrangement underscores growing investor appetite for obesity assets as drugmakers compete in a market dominated by GLP-1 therapies. Pfizer gains added financial flexibility to advance berobenatide through clinical development, while Blackstone secures exposure to one of pharma’s fastest-growing therapeutic categories. What to watch next: the pace of berobenatide’s clinical milestones and whether the funding structure includes contingent payments tied to development or regulatory success.