Pfizer: Pipeline will redeem underperforming labs
Over the past decade, Pfizer has relied heavily on licensing deals, rather than its own internal labs, to fill its pipeline. The company's labs haven't produced a major blockbuster since introducing Viagra in 1998, even though Pfizer is one of the biggest R&D spenders in the entire pharmaceutical industry.
But look for that to change over the next few years, Pfizer research chief Mikael Dolsten said at the Morgan Stanley Global Healthcare Conference in New York. Dolsten came to Pfizer when the Pharma giant acquired Wyeth last year, and took over sole possession of the top research spot after Martin Mackay left earlier this year. According to Reuters, Dolsten noted that Pfizer's current pipeline is full of experimental drugs discovered at the company's own labs, including drugs for arthritis, Alzheimer's disease and stroke prevention. "We're building a coherent organization, allowing a diversity of approaches for success," said Dolsten, who also noted the company is taking a greater interest in biotech. He added that Pfizer could boost its R&D output by focusing more on external partnerships with biotech companies and research institutions, and by being flexible about the company's level of R&D spending.
- take a look at the Reuters article
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