U.S. Markets closed

Pfizer Adds to Big Pharma's Gene-Therapy Deal Streak

Inc. has agreed to pay up to €560 million ($636 million) for the rights to gene therapies under development at French company Vivet Therapeutics, as it seeks to build its pipeline in this cutting-edge treatment. The U.S. drugmaker said Wednesday it had paid €45 million upfront for a 15% stake in Vivet. Further payments, which include the potential acquisition of Vivet, are dependent on the progress of the French company’s experimental therapies.