ATLAS News · Companies

Pfizer and Blackstone Life Sciences Sign Co-Funding Deal for berobenatide

Published November 12, 2026 · 2 sources

Blackstone Life Sciences is set to provide up to $1.5 billion through 2028 to advance Pfizer's GLP-1 drug berobenatide, outlets report.

What happened

Pfizer and Blackstone Life Sciences have signed a co-funding agreement for berobenatide, according to Pharmaceutical Executive and MedCity News. Under the deal, Blackstone is set to provide up to $1.5 billion through 2028.

Pharmaceutical Executive says the money is meant to advance berobenatide. MedCity News describes the drug as a GLP-1 designed for monthly dosing and says the funding will support its trials.

MedCity News adds that berobenatide comes from Metsera, which Pfizer acquired last year in a $10 billion deal.

Context

GLP-1 drugs are a class of medicines that has drawn heavy investment from large pharmaceutical companies. Co-funding arrangements let drugmakers share the cost of late-stage development with outside investors.

Why it matters

The agreement shows how Pfizer is financing development of a drug in the GLP-1 area, which may be relevant for following both companies.

Stocks in this story

Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.

PfizerPFE

−2.11%

Healthcare · NYSE

Live price

$28.78▼ -2.11%

live price · USD

Close on November 12: $28.83−2.11% vs. previous close ($29.45)
Fair value (ATLAS): $36.62Fair range: $29.38 to $64.70The price ($28.78) is 21.4% below that figure.
Chance of a rise in 1 month: 52%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $27.70 and $30.11; 9 in 10, between $25.72 and $32.42.

See the full ATLAS analysis of Pfizer →

BlackstoneBX

−2.84%

Financial Services · NYSE

Live price

$118.96▼ -2.84%

live price · USD

Close on November 12: $118.54−2.84% vs. previous close ($122.01)
Fair value (ATLAS): $124.42Fair range: $111.98 to $136.86The price ($118.96) is 4.4% below that figure: close to its fair value.
Chance of a rise in 1 month: 49%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $110.25 and $127.87; 9 in 10, between $96.67 and $145.84.

See the full ATLAS analysis of Blackstone →

Closing prices, fair value and probabilities: ATLAS own data. How we calculate fair value.

Sources

ATLAS writes its own summaries from the reporting of these outlets. Each link opens the original publisher.

Pfizer and Blackstone Sign Co-Funding Deal for berobenatide · Pharmaceutical Executive · November 12, 2026
Pfizer Deal With Blackstone Secures Up to $1.5B to Bankroll GLP-1 Drug Trials · MedCity News · November 12, 2026

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