On July 18, (NYSE: PFE) announced that it is forging a strategic alliance with Flagship Pioneering, a venture capital (VC) firm, in which the pair would invest $50 million each into 10 different programs in development by a subset of Flagship's portfolio of biotech companies.

The move comes during a period in which the pharma giant has been busy planting many different seeds for growth down the line, as shown by its recent plans to acquire Seagen for $43 billion as well as its $25 million equity investment in Caribou Biosciences.

So will teaming up with Flagship's biotechs lead Pfizer to growth through the rest of the decade and beyond, and should you buy it? Let's take a peek at what the pair actually agreed to, and figure it out.

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Source Fool.com