Pfizer announced Nov. 11 that Blackstone-managed funds could cover up to $1.5 billion of berobenatide development costs through 2028, supporting the clinical program for Pfizer's obesity treatment.
Pfizer said Blackstone may earn milestone payments if U.S. approval is granted for berobenatide as a monthly injection used alone for chronic weight management and commercial sales milestones are reached. Payments, if earned, would be spread over several years.
Pfizer retains control over program operations and decisions; Blackstone receives no ownership stake or rights to berobenatide, the announcement said.
Berobenatide is an investigational monthly GLP-1 receptor agonist being evaluated for chronic weight management and conditions associated with obesity, Pfizer said. The company's 2026 plan calls for at least 20 obesity-related trials, including 10 berobenatide Phase 3 studies, either ongoing or planned.
