News Briefs
  • 3:45

    Pfizer to Spend $115 Million on Israeli Drug, Tech

    U.S. drug giant Pfizer is to purchase new technology and an experimental drug from Israeli biotech company Protalix BioTherapeutics. Protalix uses plant cells to make protein-based drugs, a system that experts say is safer than the animal cells currently used by major drug companies.

    In addition, Pfizer will have worldwide rights – except in Israel – to sell a drug called taliglucerase alfa, used to treat Gaucher's disease, a rare inherited condition that damages the liver and bone marrow, sometimes leading to death. Reports said that Pfizer was spending as much as $115 million on the deal.