<div id="readability-page-1"><article>Augments Pfizer’s efforts to advance investigational medicines for cardiometabolic diseases NEW YORK--(BUSINESS WIRE)--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 &amp; 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.About Pfizer: Breakthroughs That Change Patients’ Lives At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For over 175 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.Pfizer.com. In addition, to learn more, please visit us on www.Pfizer.com and follow us on X at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.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<img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNTEyMDk1MzYwNjNyMQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNTEyMDk1MzYwNjNyMQ"/>View source version on businesswire.com: https://www.businesswire.com/news/home/20251209536063/en/<div>Media Contact: PfizerMediaRelations@Pfizer.comInvestor Contact: IR@Pfizer.com</div>Source: Pfizer Inc.</article></div>

Pfizer has entered into an exclusive global collaboration and license agreement with YaoPharma for the development, manufacturing, and commercialization of YP05002, a GLP-1 receptor agonist for chronic weight management. YaoPharma will complete the Phase 1 trial, and Pfizer will further develop the drug. YaoPharma will receive $150 million upfront and up to $1.935 billion in milestone payments. Pfizer plans to conduct combination studies with its other drugs. This collaboration aims to enhance Pfizer's cardiometabolic research portfolio.

- Pfizer has entered into a global collaboration with YaoPharma for the development of YP05002, a GLP-1 receptor agonist in Phase 1 for chronic weight management.  
- Under the agreement, YaoPharma will conduct the ongoing clinical trial, while Pfizer will have exclusive rights to further develop and commercialize the drug, with potential payments totaling up to $1.935 billion.  
- This collaboration aligns with Pfizer's strategic focus on cardiometabolic research, which is expected to drive growth in its portfolio of obesity treatments.

Pfizer Enters into Exclusive Collaboration and License Agreement with YaoPharma | PFE Stock News