Pfizer

Pfizer bankrolls a stem cell start-up

John Carroll — Tue, 24 Jun 2008 10:43:01 -0400

Pfizer is bankrolling a biotech start-up that will concentrate on developing new stem cell therapies for eye disease. Scripps Research Institute's Martin Friedlander has undertaken animal studies that identified bone and blood-marrow stem cells that could repair damaged blood vessels in the eye. And the new company, EyeCyte, will be responsible for advancing that research into the clinic. Pfizer is investing $3 million in the company and has an option to buy it if continues to look promising.

"Pfizer has put its flag in the ground that there is a future in regenerative medicine," said Pfizer's Corey Goodman.

- here's Pfizer's release
- read the report from Forbes

Report: Pfizer makes counter-offer for Ranbaxy

Maureen Martino — Fri, 13 Jun 2008 10:06:09 -0400

Pfizer may be crashing Daiichi Sankyo's party. Business Standard is reporting that Pfizer is considering a counter-offer for Ranbaxy, India's largest drugmaker. The rumor comes on the heels of the $4.6 billion offer Daiichi made just two days ago. Sources say Pfizer may "make a bid for 41.3 percent of the company from institutions and another 21.2 percent from individual shareholders." None of the companies involved have confirmed the rumors.

So why would Pfizer be interested in Ranbaxy? It turns out that there are plenty of reasons. An acquisition of Ranbaxy would give the world's largest drugmaker a big slice of the hot generic drug market. The other big reason? Lipitor. Ranbaxy is planning to launch a generic version of the $10.1 billion-a-year earner in 2010, and wouldn't it be nice for Pfizer if it could control that bit of competition? There's no word on what Ranbaxy's thoughts are on the deal. Ranbaxy says the deal is already done and that it's too late for Pfizer to make a bid, but this battle may just be getting started.

- read the WSJ report
- here's a Forbes article for more

Pfizer blazes new research path

John Carroll — Tue, 10 Jun 2008 11:58:25 -0400

Taking a page from the biotech playbook, Pfizer has just inked a three-year, $9.5 million research collaboration pact with the University of California, San Francisco. The money will be used to fund early scientific work into new therapies and devices. Pfizer report

Avant shares soar on positive cancer vaccine data

Tue, 03 Jun 2008 06:59:57 -0400

On the same day that Ted Kennedy was undergoing brain surgery to remove a tumor, researchers were pouring over new data for an experimental cancer vaccine designed to combat glioblastoma multiforme tumors. In a small study directed by Duke University's John Sampson, 23 patients appear to be on track to deliver a median overall survival rate of 33.1 months where the historical median is 14.3 months. Pfizer obtained the license for CDX-110 earlier this year from Avant Immunotherapeutics, which saw its stock price soar 34 percent on the news.

"So far it's encouraging to see ACT II replicate Activate, and basically double both time-to-progression and (projected) overall survival in comparison to the historical control," said Brean Murray & Co. analyst Jonathan Aschoff.

- see Avant's release
- read the AP report
- check out the story from Forbes

ALSO NOTED: Acorda shares soar; Lexicon wins fast track; NIH grants $533N in research funds; and much more...

Tue, 03 Jun 2008 06:59:50 -0400

> News yesterday that Acorda Therapeutics' experimental MS drug helped patients walk better sent its shares up 27 percent. Report

> The FDA has provided fast-track status to Lexicon Pharmaceuticals' therapy for carcinoid syndrome. Story

> Cougar Biotech says it presented positive Phase I and Phase II data for CB7630, an experimental therapy for castration resistant prostate cancer. Release

> Arana Therapeutics and Greenovation Biotech have forged a pact to develop up to five anti-cancer antibodies. Report

> China's Genesis Pharmaceuticals Enterprises has raised $30 million in a private placement. Release

> Novartis "stole the show" at ASCO, Forbes says. Between the big Zometa news--that the bone drug may actually prevent breast cancer recurrence--and dramatic data on an experimental med, the Swiss pharma came out of ASCO looking pretty sweet. ASCO report

> Guess who's the new up-and-comer in pharma? Brazil. Report

> It's not a new question, but it's one whose urgency is growing: How long can Pfizer pay its big dividend? Report

> Eugene Melnyk (photo) said he'd do it, and now he has. The founder of Canada's Biovail launched a proxy battle for the company, looking to sweep out its board and senior management. Report

And Finally… The Scripps Transitional Research Institute was one of 14 research groups that will gain $533 million from the NIH over five years. The funds are earmarked to speed the development of new technologies. Report

Biotech entrepreneurs grow a new CRO in China

Mon, 19 May 2008 06:59:57 -0400

Biotech entrepreneur John Oyler--who helped found Genta and Galanea--sat down with Chemistry World to discuss his three-year-old CRO, BioDuro. He and an old friend founded the CRO with their own money, choosing to base the contract research organization in Beijing rather than Shanghai, where the big multinational drug companies have flocked.

"By the end of this year, we will have nearly 600 chemists and biologists working for the company," Oyler tells the pub. "Most of the world's top pharmaceutical firms are our clients. We have our business and marketing headquarters in San Diego, California. We have a team of more than 20 senior scientists leading the firm, many of whom used to be at multinationals like Merck and Pfizer."

- read the report in Chemistry World

Pfizer gets new cancer team to advance key drugs

Thu, 15 May 2008 06:59:56 -0400

With the clock ticking on its patent for Lipitor, Pfizer has turned to a group of new executives to lead the company to the promised land of new cancer therapies.

Garry Nicholson, a 30-year Eli Lilly vet, will be responsible for overseeing every aspect of Pfizer's new oncology programs, from the first clinical trial to marketing, notes Forbes. Neil Gibson, formerly chief scientific officer at biotech OSI Pharmaceuticals, has been brought in to direct oncology research. And Briggs Morrison, who was able to speed clinical trials at Merck, has been brought in to do trial design.

"It's an exceptional situation," says Nicholson. "And for someone like me, who is in the business to get as many cancer drugs that extend survival to patients as possible, it is the best situation that I know of."

Pfizer needs all the help it can get. The drug giant is likely to lose 25 percent of its current revenue to generic competition for Lipitor.

- see Pfizer's statement on Nicholson's appointment
- read the article from Forbes

Pfizer rumored to be eyeing MediGene buyout

Wed, 14 May 2008 06:59:57 -0400

Rumors are swirling that Pfizer is looking to take over the German biotech MediGene. Shares of the smaller company leapt more than 12 percent today as reports of a possible deal hit the newswires. Neither company would comment on whether they've held talks, as reports suggest.

MediGene specializes in cancer, autoimmune disease and skin disease; its two marketed products are the prostate cancer treatment Eligard and a genital warts med Veregen. European approval for a skin drug, Oracea, is pending. In the pipeline: a pancreatic cancer drug, Endotag.

- see the story in Forbes
- check out the brief at Thomson Merger News

NicOx shares plunge on Pfizer trial failure

Tue, 06 May 2008 06:59:58 -0400

Shares of France's NicOx tumbled 38 percent after Pfizer announced that it would not advance their experimental therapy for glaucoma into Phase III. Researchers for Pfizer said that Phase II data was "interesting" but failed to meet its primary endpoint. That was all investors had to hear. They drove NicOx shares down to a five-year low.

There was some good news for NicOx. Pfizer says it remains committed to the program and may pursue new research on the compound once a Phase II trial in Asia is wrapped. That data is expected in the third quarter of this year.

NicOx's drug platform involves enhancing therapeutics with nitric oxide. PF-03187207 is a new version of Pfizer's Xalatan, the best-selling glaucoma medicine. The failed mid-stage trial did produce data indicating the new therapy demonstrated "clinically significant reduction in diurnal intraocular pressure" compared to Xalatan.

"We believe this Phase II study for PF-03187207 has provided interesting data," said David Eveleth, Pfizer's vice president, ophthalmology development. "While the study did not meet its primary clinical endpoint and our criteria for launching a global Phase III program for this compound, we remain committed to our joint research program with NicOx, where the follow-up compounds to PF-03187207 have produced encouraging results."

- check out the release

Esperion gets second shot as an independent drugmaker

Mon, 05 May 2008 06:59:55 -0400

After getting squashed in Pfizer's restructuring crunch, Esperion Therapeutics is reopening this week. The company, which specializes in cardiovascular and metabolic disease work, is hiring about 10 researchers from Pfizer and Esperion. Esperion was shut down last year during Pfizer's restructuring, a move that affected about 60 people working for the company, which was acquired in 2003. Aisling Capital, Alta Partners and Domain Partners are providing more than $22 million to re-start the venture, with Pfizer holding on to a stake.

Michigan officials count the reopening as a hopeful bright spot following Pfizer's decision to shutter its Ann Arbor R&D facility, which employed 2,100 people. CEO Roger Newton was cautious about describing the developer's plans, but says he expects to do some more hiring. He also told Crain's Detroit Business that Esperion has gained "control of a series of compounds and will pursue development of a small molecule that inhibits the creation of fatty acid and cholesterol synthesis."

- read the article from the Detroit News
- check out this report for more