Pfizer to pay $1.3 billion for Sanofi's Exubera rights
A bullish Pfizer has agreed to pay $1.3 billion to buy out Sanofi-Aventis' interest in Exubera, an inhaled, dry powder form of human insulin that they were jointly developing. The deal includes full ownership of the insulin production plant they jointly owned in Frankfurt, Germany. JP Morgan analyst Chris Shibutani has estimated annual sales of Exubera, which is awaiting approval in the U.S. and Europe, at $1.1 billion. And analysts were impressed by Pfizer's bold move, which is seen as a solid plus at a time the pharma giant has struggled to find new blockbusters to replace drugs facing generic competition.
"As diabetes reaches epidemic levels worldwide, new treatment options such as Exubera--the first inhalable, non-injectable insulin medicine--have the potential to improve the lives of millions of people with diabetes," said Pfizer CEO Hank McKinnell. About 194 million people around the globe are diabetic.
- read this report from MarketWatch for more
More stories about Pfizer sales and marketing injectable Generics Diabetes Sanofi Aventis Exubera blockbusters pharmaceuticals
Paid Research Reports
- RNA therapy: the next big thing after monoclonal antibodies?
- Biotech M&A Strategies: Deal assessments, trends and future prospects
- The Dermatology Market Outlook to 2013: Competitive landscape, pipeline analysis and growth opportunities
- Pipeline Insight: Cancer Overview - Breast, Gynecological, Genitourinary - Diverse drugs approaching the market for many tumor t
- Sales Force Effectiveness
