Augments Pfizer's efforts to advance investigational medicines for cardiometabolic diseases

Pfizer Inc. (NYSE:PFE) today announced it has entered into an exclusive global collaboration and license agreement with YaoPharma, a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Limited (02196.HK and 600106.SH), a leading innovation-driven global healthcare company, for the development, manufacturing and commercialization of YP05002, a small molecule glucagon-like peptide 1 (GLP-1) receptor agonist currently in Phase 1 development for chronic weight management.

"We look forward to contributing our expertise and resources to continue the development of this investigational GLP-1 small molecule which complements and strengthens our growing portfolio of novel candidates for treating obesity and its adjacent diseases," said Chris Boshoff, M.D., Ph.D., Chief Scientific Officer and President, Research & Development, Pfizer. "Cardiometabolic research is a strategic priority for Pfizer that has the potential to be a key driver of growth for our business."

Under the terms of the agreement, YaoPharma will complete an ongoing YP05002 Phase 1 clinical trial and grants Pfizer an exclusive license to further develop, manufacture and commercialize YP05002 worldwide. YaoPharma will receive an upfront payment of $150 million and is eligible to receive milestone payments associated with certain development, regulatory and commercial milestones up to $1.935 billion, as well as tiered royalties on sales, if approved.

Pfizer plans to conduct combination studies of YP05002 with its glucose-dependent insulinotropic polypeptide receptor (GIPR) antagonist PF-07976016 currently in Phase 2 development and with other small molecules in its pipeline.

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Disclosure Notice: The information contained in this release is as of December 9, 2025. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about a collaboration and license agreement between Pfizer and YaoPharma, YP05002, a small molecule GLP-1 receptor agonist, clinical development plans and Pfizer's portfolio of candidates for treating obesity and its adjacent diseases, including their potential benefits and the potential of cardiometabolic research to be a key growth driver, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, risks related to the ability to realize the anticipated benefits of the collaboration and license agreement, including the possibility that the expected benefits will not be realized or will not be realized within the expected time period; the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for our clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; risks associated with initial, preliminary or interim data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from the clinical studies; whether and when drug applications may be filed in any jurisdictions for YP05002 or any other drug candidates for any potential indications; whether and when any such applications may be approved by regulatory authorities, which will depend on myriad factors, including making a determination as to whether the product's benefits outweigh its known risks and determination of the product's efficacy and, if approved, whether YP05002 or any such other drug candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of YP05002 or any such other drug candidates; whether our collaboration with YaoPharma will be successful; risks and uncertainties related to issued or future executive orders or other new, or changes in, laws or regulations; uncertainties regarding the impact of COVID-19 on Pfizer's business, operations and financial results; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in its subsequent reports on Form 10-Q, including in the sections thereof captioned "Risk Factors" and "Forward-Looking Information and Factors That May Affect Future Results", as well as in its subsequent reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com.

Category: Corporate, Research and Pipeline

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Pfizer Enters into Exclusive Collaboration and License Agreement with YaoPharma