Development of new drug for cancer treatment, agreement reached

Leading pharmaceutical company Pfizer has signed a $43 million deal for a new innovation in cancer treatment.

Foreign news agencies Reuters reports Pharmaceutical company Phys has signed a historic $43 billion deal with biotech company Cigan to add advanced targeted therapies to cancer medicine, according to

Pfizer will pay the biotech company $229 per share, according to a company spokesperson. The deal is even bigger than the Covid-19 vaccine, which will include four approved cancer treatments with combined sales of $2 billion.

The Pfizer logo is pictured on their headquarters building

Albert Borla, CEO of pharmaceutical company Pfizer, has told analysts that the company’s biotech drug maker, Sagan, plans to continue to innovate, which will provide resources.

Notably, Cigan has four treatments on the market, and is also developing a pipeline of drugs that include potential treatments for lung cancer and advanced breast cancer.

It should be noted that the treatment of every disease has a cost, but cancer is the top and most expensive treatment. A survey has shown that if current rates of various types of cancer continue globally, $25 trillion will be spent on its treatment by the year 2050.

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