BMS gets $50M upfront in Pfizer deal

Is this Pfizer's dose of financial Red Bull? Pfizer and Bristol-Myers Squibb have inked in the details of their deal to develop treatments for metabolic disorders. First announced in April, the agreement makes Pfizer responsible for all R&D; the two companies will conduct joint Phase III trials and work together to sell the products.

Pfizer's stimulus: Bristol-Myers will give the company $50 million up front to jump start R&D efforts. And Bristol-Myers will pay 40 percent of development and commercialization costs. Now we know at least one Pfizer R&D unit whose jobs are safe, right?

- check out the release

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