Rocket Pharma adds Pfizer R&D head to board By Investing.com

CRANBURY, N.J. – Rocket Pharmaceuticals, Inc. (NASDAQ: NASDAQ:), a biotechnology firm focused on genetic therapies for rare disorders, has announced the appointment of Mikael Dolsten, M.D., Ph.D., to its Board of Directors. Dr. Dolsten, currently serving as the Chief Scientific Officer and President of Research & Development at Pfizer Inc. (NYSE: NYSE:), brings a wealth of experience in pharmaceutical management and gene therapy advancement to the Rocket Pharma team.

The addition of Dr. Dolsten to the board is expected to bolster Rocket Pharma’s scientific capabilities as it moves towards commercializing its treatments. CEO Gaurav Shah, M.D., expressed optimism about Dr. Dolsten’s role in pushing the company’s mission forward, particularly in the development of transformative treatments for patients with unmet medical needs.

Dr. Dolsten’s career spans several high-profile positions in the pharmaceutical industry, including leadership roles at Wyeth, Boehringer Ingelheim, AstraZeneca (NASDAQ:), Pharmacia, and Upjohn. His expertise extends to advising on regulatory and drug development issues, which he has done for both the Obama administration and the Biden administration’s Cancer Moonshot Initiative.

Rocket Pharmaceuticals is engaged in advancing a pipeline of investigational genetic therapies aimed at treating complex and rare diseases. The company’s portfolio includes late-stage programs for conditions such as Fanconi Anemia, Leukocyte Adhesion Deficiency-I, and Pyruvate Kinase Deficiency, as well as cardiovascular programs for Danon Disease and other heart failure conditions.

Dr. Dolsten expressed enthusiasm about joining Rocket Pharma, noting the company’s promising clinical programs and its potential to cure genetic diseases. His appointment is part of the company’s strategic efforts to transition into a commercial organization and expand its reach to more patients.

The information in this article is based on a press release statement from Rocket Pharmaceuticals, Inc.

In other recent news, Pfizer Inc. faced a downgrade from “Buy” to “Hold” by Erste Group due to a significant drop in sales of COVID-19 related products and slower business growth. The pharmaceutical company is now focusing its efforts on its oncology products. Additionally, Pfizer revealed a setback in a Phase III trial for a combined mRNA vaccine targeting COVID-19 and influenza, which did not meet expected outcomes.

Simultaneously, Pfizer, alongside GSK, Sanofi (NASDAQ:), and Boehringer Ingelheim, is appealing a lower court’s ruling allowing expert testimony in over 70,000 lawsuits linking the heartburn medication Zantac to cancer. The Delaware Supreme Court has agreed to hear this appeal.

In a positive development, Pfizer has launched PfizerForAll, a digital health platform designed to streamline access to healthcare services for Americans. This initiative aims to simplify the process of managing health for individuals dealing with common illnesses and those seeking adult vaccinations.

The U.S. Food and Drug Administration (FDA) also approved updated COVID-19 vaccines from Pfizer and Moderna (NASDAQ:), targeting newer variants of the virus. Meanwhile, Oppenheimer maintained its Perform rating on BioNTech (NASDAQ:), following the announcement of Phase 3 trial results for the company’s combined mRNA vaccine against influenza and COVID-19.

InvestingPro Insights

As Rocket Pharmaceuticals welcomes Dr. Mikael Dolsten from Pfizer to its Board of Directors, it’s valuable to understand the financial health and market position of Pfizer (NYSE: PFE), where Dr. Dolsten has been instrumental. According to InvestingPro data, Pfizer currently holds a market capitalization of $166.66 billion. Despite a challenging period with revenue experiencing a decline of 29.65% over the last twelve months as of Q2 2024, the company still boasts a gross profit margin of 60.16%, indicating robust profitability on its products.

InvestingPro Tips highlight Pfizer’s longstanding reliability as a dividend payer, having raised its dividend for 13 consecutive years and maintained payments for an impressive 54 years. This commitment to shareholder returns, alongside a notable dividend yield of 5.71% as of the latest data, may interest investors looking for steady income streams. Furthermore, the company is expected to return to profitability this year, with 13 analysts revising their earnings estimates upwards for the upcoming period.

For readers interested in gaining a deeper understanding of Pfizer’s financial outlook and how Dr. Dolsten’s experience might influence Rocket Pharmaceuticals’ future, InvestingPro offers additional tips and metrics. Currently, there are 11 more InvestingPro Tips available for Pfizer at https://www.investing.com/pro/PFE, providing a comprehensive analysis for investors and industry observers alike.

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