Not long ago, Pfizer said it was getting out of the business of developing drugs for Parkinson’s and Alzheimer’s diseases, but the pharmaceutical giant appears to be hedging its bets.
Pfizer and Bain Capital, the Boston global investment firm cofounded by Mitt Romney, plan to announce Tuesday that they are launching a biopharmaceutical startup that will work on medicines for people with Parkinson’s, Alzheimer’s, and other diseases of the central nervous system. The new firm, Cerevel Therapeutics, will be located in the Boston area, but Bain officials did not say where.
