Pfizer is revamping its R&D efforts and abandoning its early-stage work in heart disease. The pharma giant announced today that it is dropping research projects in obesity and bone density, but will look for partners to carry on the work.
Citing an internal memo, Forbes reports that Pfizer will stop work in anemia; bone diseases like osteoporosis; liver disease; muscle disease; obesity; the biological causes of arthritis; and peripheral artery disease, or blood clots in the leg. "We still see the programs that we're stopping as having value," said Martin Mackay, Pfizer's head of research and development. "They're just not as valuable as other programs, like Alzheimer's or oncology."
Overall, the company's pipeline now includes 114 programs from Phase I through Registration. Twenty-five of those programs are in Phase III development. And Pfizer again stressed its commitment to developing biologics, saying that the company is vigorously driving its biotechnology investments and has 16 biotherapeutics in development. It also has seven other cancer programs in Phase III. The new R&D focus will include such disease areas as oncology, pain, inflammation, diabetes, Alzheimer's disease and schizophrenia.
The change is reportedly being made without any plans to cut research jobs. Mackay said some workers may be displaced by the changes but that they would find opportunities elsewhere in the company. And Pfizer says it will continue to pursue late-stage programs, including an anti-clotting drug it is working on with Bristol-Myers. The shift will away from heart, obesity and bone drugs won't apply to any drugs that may be launched in the next three years.
- see Pfizer's release
- check out the report from Forbes
- read the story from the Wall Street Journal