Pfizer CEO Ian Read got a nice pay bump for 2015, with a total package of $23.3 million--more than one-quarter bigger than the previous year's total. But a big chunk of that increase came in the value of his pension. Back that out, and Read's compensation only grew by $280,000.
Over the past year, Pfizer has certainly achieved CEO Ian Read's goal of bulking up beyond best-selling vaccine Prevnar 13. In addition to ushering its meningitis B vaccine through the clinic to an FDA approval, it's made two pickups to expand its marketed portfolio and pipeline. So what's next for the pharma giant's vaccines unit? Perhaps more deals, its leader says.
Almost two years after announcing it would close a Lipitor-producing plant in Cork County, Ireland, Pfizer has officially said it will keep the plant operational. It turns out there is enough demand around the world for its off-patent cholesterol drug for the plant to remain open "for the foreseeable future."
It's official: Demand for the off-patent drug Lipitor has inspired Pfizer to keep an Irish plant it had slated for closure.
Pfizer has been lobbying the FDA to back off of the black-box warning on its stop-smoking drug Chantix. But patient groups and others have been pushing back--including a panel of FDA advisers, which voted last year to keep the agency's boldest warning on Chantix's official label.
Bristol-Myers Squibb and Pfizer got a positive recommendation from the U.K.'s cost gatekeeper for its new-age clot-fighter Eliquis, giving the companies a boost as they chase $3 billion in sales for the drug and compete with rivals Pradaxa and Xarelto.
South San Francisco-based Catalyst Biosciences, which has kept a low profile in recent years, has jumped back into the spotlight with a reverse merger with Targacept, the beleaguered North Carolina biotech that suffered a long string of embarrassing failures in the clinic.
Pfizer's Prevenar 13 is already the world's best-selling vaccine, and it kept on rolling Tuesday with a European label expansion.
Western drugmakers finding their way into the Middle East and North Africa are being met by some domestic companies expanding operations in an effort to take on this competition. Among those is MS Pharma, which is now expanding manufacturing in Jordan with a loan from the European Bank for Reconstruction and Development.
There's a reason immuno-oncology is among the hottest fields in biopharma today--and that's the $20 billion or so in 2022 sales that many analysts estimate. No wonder Bristol-Myers Squibb, Merck, AstraZeneca and Roche are speeding ahead with their research in the field, with Sanofi, Novartis and Pfizer racing to catch up.