With U.K. lawmakers skeptical of Pfizer's commitment to keep AstraZeneca jobs and AstraZeneca science in the U.K., Pfizer over the weekend released a series of videos focusing on that science--and downplaying the tax benefits CEO Ian Read crowed about so loudly when first confirming his company's trans-Atlantic bid.
Given the eyebrow-raising cash component in Celgene's new deal with Nogra, we thought it would be fun to list the top 10 upfronts paid for experimental drugs, ranked simply according to the cash included in the upfront--no surer sign of what a company really thinks about the potential of an experimental therapy or portfolio.
Last March, Pfizer announced it would file for approval for its meningitis B candidate. Now, it has positive results from a pair of midstage trials for the jab that will keep it on track for expedited approval--and a showdown with Novartis' Bexsero.
Pfizer has managed to upset just about everybody with its $106 billion takeover offer for U.K.-based AstraZeneca. AstraZeneca doesn't like it. The U.K. Parliament is concerned about possible losses of job and status. Some U.S. politicians see it as a tax dodge, and even a couple of governors fear Pfizer will slash AstraZeneca jobs in their states.
Amid concerns that its planned buyout of AstraZeneca would deal a blow to U.K. R&D, Pfizer has teamed up with a host of British universities to collaborate on rare-disease drugs.
Anxious to fight off Pfizer's $106 billion marriage proposal, AstraZeneca's research team has rushed its high-profile immuno-oncology drug into a late-stage test. And they're setting out by targeting non-small cell lung cancer in the first Phase III in the MEDI4736 program.
Earlier this week, Pfizer's reported that its vaccines unit managed a 2% revenue increase in Q1, with anchor Prevnar 13's worldwide sales missing consensus estimates. But if CEO Ian Read can wrap up the deal with AstraZeneca he's been hankering for, that business could get a boost in the not-too-distant future.
Back in early 2009, when Pfizer pulled off its big merger with Wyeth, the pharma giant boasted that the combined company "will have more resources to invest in research and development than any other biopharmaceutical company." Combined, they easily outspent every other Big Pharma research operation around the world. And the company touted its new prospects with the Alzheimer's R&D group at Wyeth, including the Phase III program for bapineuzumab.
Reuters reports that British Prime Minister David Cameron is now demanding stronger guarantees that Pfizer's buyout of AstraZeneca won't decimate the country's science community and leave a host of employees jobless.
The uproar in the U.K. over Pfizer's proposed megamerger with AstraZeneca continues unabated. But thousands of other jobs are up for the chopping block in Sweden and the U.S., where the Financial Times ' correspondents are having a hard time finding politicians willing to jump the partisan divide to stop the deal.