![]()
|
|
|
Busy times for Pfizer
03-13-2012
SHARING OPTIONS:
NEW YORK—As it continues to refocus itself back on
pharmaceuticals and unload parts of its operation—such as its animal health
businesses—Pfizer has been busy even as it shrinks, with several bits of news
early this week, from the closing of a key research center to good news on a pneumococcal
vaccine to rumors of a buyer for its animal health businesses and more.
One of the most publicly notable pieces of news
was the closing of Pfizer's research center in Sandwich, England, which was the
place Viagra—the company’s $2 billion-a-year erectile dysfunction pill—was born.
The more than 2,000 people who worked there were fired in 2011 and now the 213-acre
site, once Pfizer's biggest European lab, is officially for sale. The sale of
the center is reportedly part of the strategy to narrow Pfizer's focus to just
five therapeutic areas, according to Pfizer CEO Ian Read, who announced the
closure of the Sandwich facility in February 2011, just two months after taking
the head office position at Pfizer.
Although he said he couldn’t afford to be “sentimental”
about the closure, “It was a very difficult decision for us,” he maintained.
The bottom line, though, is that the researchers there worked on allergies and
respiratory diseases, “areas where we were less productive and less likely to
win in the marketplace,” Read noted.
Looking toward another aspect of Pfizer’s re-focusing
effort, Germany-based pharma giant Boehringer Ingelheim will reportedly
consider buying Pfizer's animal health business, provided the company sells it
in parts, Engelbert Tjeenk Willink, a member of BI’s board of directors, told
the Economic Times recently.
“It depends on for what geography and what exact
portfolio they put it on the market,” Willink told the publication, though he didn't
say whether the company had actually bid for acquiring Pfizer's animal health
business. In July 2011, Pfizer had announced a spin-off of its animal health
and nutrition business, and companies like Novartis and Bayer are said to be in
the running to buy the animal health portion of Pfizer.
Although the emphasis is on divestment, at least
one contributor to the Seeking Alpha website, Stock Croc, sees recent takeovers
that expanded the company as key to future market gains.
He noted in a March 9 post at the site that Pfizer
is the largest pharmaceutical company in the world, generating almost 90
percent of its revenue through the sale of its various prescription medications
and said “it maintains a wide economic moat through its extensive portfolio of
medicines,” adding that “In my opinion, the recent acquisition of Wyeth in 2009
secures Pfizer's leading place in the market and will contribute to its steady
and reliable growth in the near future.”
Furthermore, he noted that on Feb. 27 this year, “in
a move to gain a foothold in the rapidly growing vitamin supplement market,
Pfizer announced its acquisition of Alacer, the maker of Emergen-C, which is a
leading brand of vitamin C supplement that sells over 500 million packets each
year. The Emergen-C line of products is the largest selling product of its kind
in the United States and is distributed through supermarkets, drug stores and
health stores across the country. In my opinion, this acquisition will pay off
for Pfizer, as more health-conscious consumers are beginning to look to the
vitamin supplement market in view of preventive health concerns.”
“The acquisition of Wyeth has made all the
difference for Pfizer and has allowed it to surpass Novartis and remain ahead
of Merck,” he also noted. “It also operates at a slightly higher margin of 29
percent compared to Novartis and Merck, which both operate at margins of 21
percent.”
On the more clinical side of Pfizer’s current
activities, March 12 saw an announcement that data from a Phase III study of
Prevnar 13 (Pneumococcal 13-valent Conjugate Vaccine [Diphtheria CRM197
Protein]) met all study endpoints, showing immunogenicity and establishing a
safety profile in children and adolescents aged 5 through 17 years. These data will
support planned regulatory submissions seeking to expand the Prevnar 13 label
in the United States, the European Union and various countries around the world,
Pfizer says.
“As a global leader in pneumococcal disease
prevention, we are excited about the potential to further define the clinical
utility of Prevnar 13 with the aim of seeking to broaden prevention efforts to
additional age groups,” said Dr. Emilio Emini, chief scientific officer for the
Vaccine Research division at Pfizer. “While pneumococcal disease most often
strikes younger children, older children and adolescents who have certain
medical conditions are also at heightened risk for contracting the disease.”
Also on the clinical side, Pfizer reported very
recently that it is ending a safety study of its pain drug Celebrex—Pfizer’s
fifth-best-selling drug at $2.52 billion in sales last year—because of
difficulty finding patients. The trial was designed to measure the effects of
Celebrex on patients who were taking the drug to treat juvenile idiopathic
arthritis. The drug was originally approved in 1998, and Pfizer was required to
do this safety study in 2006 after Celebrex was approved as a treatment for
juvenile idiopathic arthritis. According to Pfizer, the U.S. Food and Drug
Administration (FDA) had recently released it from this requirement.
Also in the whirlwind of Pfizer coverage on the
news wires early this week was news that painkiller developers such as Pfizer, Johnson
& Johnson and Regeneron Pharmaceuticals Inc. were trying to revive a class
of arthritis drugs that had been sidelined by safety concerns for nearly two
years because the FDA had said there was a clear association between the
nerve-blocking medications and incidences of joint failure.
However, FDA has also noted that those side
effects were less common when the drugs were used at lower doses, which left
the door open for companies to revisit this class of drugs, which includes Pfizer’s
experimental tanezumab and also fulranumab and REGN475, which were being
explored by J&J and Regeneron.
March 13 saw the announcement that Pfizer and its
rivals had won the backing of an FDA advisory panel to continue development of this
class of experimental painkillers. The 21 FDA advisers voted unanimously that
the benefits of enhanced pain relief outweigh the risks of the so-called
anti-nerve growth factor drugs—though this doesn’t guarantee that the FDA
itself will ultimately agree (although that is usually the case).
“There’s significant risk but there are probably
patient populations where there will be significant benefit,” Lenore Buckley,
professor of internal medicine and pediatrics at Virginia Commonwealth
University School of Medicine in Richmond and chairwoman of the panel, said
during the meeting.
Code: E03141202 Back |
|
||
|
Home |
FAQs |
Search |
Submit News Release |
Site Map |
About Us |
Advertising |
Resources |
Contact Us |
Terms & Conditions |
Privacy Policy
|