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Pfizer buys stake in French gene company in deal worth up to $636M

Ben Miller
Pfizer buys stake in French gene company in deal worth up to $636M

Pfizer Inc. said it's buying a stake in a French gene company in a deal that could be worth up to $636 million. The New York drug company (NYSE: PFE) said it's paying $51 million upfront to acquire a 15 percent stake in Vivet Therapeutics of Paris. Vivet is working on a drug — VTX-801 — to treat Wilson disease, which is a rare and possibly fatal condition in which excess copper collects in the body's liver and other organs, perhaps to life-threatening levels.