Pfizer suffers double dose of bad pipeline news

Investors ignored a double dose of bad news for Pfizer yesterday, sending its shares higher despite a decision to shutter a development program for lung cancer and the disappointing announcement that it faced fresh delays for gaining approval of its HIV therapy maraviroc. Researchers said that the company would halt four mid- and late-stage trials of PF-3512676 after determining that the drug wasn't working as expected. That was also terrible news for Coley, which licensed the drug to Pfizer. Pfizer also announced that the FDA was seeking more information on maraviroc but won't require any new trials.

- see this release on the PF-3512676
- and this release on maraviroc
- read the AP report