Pfizer has announced it will buy a British pharmaceutical company, which has its U.S. headquarters in Durham.
ReViral is working on an oral treatment for respiratory syncytial virus, or RSV. The symptoms are mild for most people. But for seniors, it can be fatal.
177,000 older Americans are hospitalized with RSV every year and 14,000 die from it. There are few treatments for RSV, but ReViral鈥檚 drug has shown promise in a phase two trial. The company has another RSV therapy in early development.
鈥淧fizer is an optimal partner given their commitment to RSV through their ongoing RSV vaccine program, coupled with their world-class clinical, regulatory, manufacturing and commercial capabilities,鈥� ReViral CEO Alex Sapir said in a . 鈥淲e look forward to working with our colleagues at Pfizer to bring these therapies to patients as quickly as possible.鈥�
Pfizer Chief Executive Albert Bourla noted ReViral鈥檚 work compliments his company鈥檚 efforts to fight all kinds of infectious diseases, including COVID-19. 鈥淲e鈥檙e continuing to grow our pipeline 鈥� through our own research-and-development efforts, such as our investigational RSV vaccine programs, as well as strategic investments in companies like ReViral 鈥� with a focus on end-to-end capabilities to help protect patients from severe illness, hospitalization, and death,鈥� he said.
Founded in 2011, ReViral鈥檚 U.K. headquarters are located in a , about 29 miles north of London. Its U.S. headquarters is on Meridian Parkway in Durham. Pfizer has a large presence in Research Triangle Park and employs about 3,600 people in North Carolina.
Pfizer says it will buy ReViral 鈥渇or a total consideration of up to $525 million鈥� and the deal could generate $1.5 billion in revenue once complete.
