Pfizer's third-quarter results perfectly capture the forces shaping Big Pharma these days. Patent losses linger, with hundreds of millions lost to generic competition old and new. But Pfizer had growth in emerging markets and cancer sales to help stanch the flow, so overall sales only shrank by 2% to $12.6 billion. But shrink they did, and so did Pfizer's expectations for the full year.
Pfizer announced in its quarterly statement today that Lilly had agreed to share the cost of development on tanezumab in exchange for a split of the profits. Lilly, which has come under increased scrutiny after a series of high-risk drug programs failed to pan out, will also pay an unspecified upfront--provided the FDA lifts a partial hold on the program.
The latest report on healthcare fraud settlements is out, this time from Taxpayers Against Fraud. And this time, as usual, Big Pharma features prominently. The anti-fraud group regularly totes up whistleblower settlements with federal and state governments, and we all know that drugmaker payments account for billions.
The U.S. is one of only two countries that allow direct-to-consumer (DTC) advertising of pharmaceuticals, and opinions on whether doing so is a good idea are all over the place, even among doctors....
Shares of Pain Therapeutics shot up 23% this morning after the biotech outlined Pfizer's plans to complete the work needed to resubmit the tamper-proof pain med Remoxy to the FDA. The pharma giant also handed back three assets to Pain.
One of Pfizer's top late-stage prospects is its cancer drug palbociclib, an oral inhibitor of cyclin-dependent kinases (CDK) 4 and 6 that the FDA put in its first group of therapies awarded their "breakthrough" drug designation. But Pfizer is not the only Big Pharma company to view the CDK 4/6 pathway as a likely goldmine in oncology. Novartis has now started a slate of Phase I studies of LEE011, which its researchers are touting as a best-in-class contender.
Recognition of the role of protein structure changes in signaling has driven a proliferation of techniques to detect the shifts. Crystallography, dual polarization interferometry and a host of other methods have been tried, but all have flaws. Now, Pfizer and Roche think they have found a better way.
According to an EP Vantage report, analysts' predictions for 2014 sales of the anticoagulant have fallen 60% in the last 12 months. They now stand at $491 million. That is as projections for 2014 sales of Xarelto have surged by 81% and 60% in the respective territories for J&J and Bayer, to $1 billion and $1.4 billion.
Soon to lead a new vaccines, oncology and consumer health division at Pfizer, Schulman says ambitious women need to speak up, spend their political capital and stop asking themselves whether they belong.
Rheumatoid arthritis treatment Xeljanz, while expected to grow into a big seller for Pfizer, hasn't had a fast start. The company hoped adding a psoriasis indication for the drug, also known as tofacitinib, might give sales a jolt. But mixed trial results suggest that approval won't arrive anytime soon--and if it does, demand could be slim.