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BridgeBio turns negative after Pfizer details tamidis settlement

BridgeBio (BBIO) shares after now down 2%, or $1.23, to $73.27 in morning trading. Pfizer (PFE) said its tafamidis settlements with generic drug manufacturers extend the effective U.S. patent expiry date to June 1, 2031, subject to the outcome of other litigation. Pfizer had previously anticipated a significant decline in U.S. revenues for tafamidis beginning in 2029 upon patent expiry. As a result of this settlement, revenues are now expected to remain relatively stable from 2028 through mid-2031, the company said.

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