Pfizer to Pay up to $525 Million for Lung-Focused Biotech

Pfizer Inc. agreed to buy respiratory antiviral developer ReViral Ltd. for as much as $525 million, the Covid-19 vaccine maker’s latest move in the once-overlooked field of infectious disease.

U.K.-based ReViral is developing therapies for respiratory syncytial virus, a common lung ailment, and Pfizer said Thursday in a statement that annual revenue could top $1.5 billion. The proposed transaction is subject to closing conditions, including receipt of regulatory approvals, Pfizer said.

After years of neglect of infectious disease among big pharma companies, Pfizer along with rivals Johnson & Johnson and Moderna Inc., see a burgeoning market for vaccines ...