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Pfizer Inc
Company Profile
Reference Code: 1316
Publication Date: 20/08/2001

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Pfizer Inc Reference Code: 1316
Publication Date: 20/08/2001 Page 2
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TABLE OF CONTENTS
Pfizer Inc Reference Code: 1316
Publication Date: 20/08/2001 Page 3
Table of contents
CHAPTER 1 Company Overview 6
CHAPTER 2 Business Description 7
CHAPTER 3 History 8
CHAPTER 4 SWOT Analysis 9
4.1 Overview 9
Strengths 9
Opportunities 9
Weaknesses 9
Threats 9
4.2 Pfizer Inc Strengths 10
4.3 Pfizer Inc Opportunities 10
4.4 Pfizer Inc Weaknesses 11
4.5 Pfizer Inc Threats 11
CHAPTER 5 Key Employees 12
CHAPTER 6 Key Employee Biographies 15
CHAPTER 7 Products and Services 18
CHAPTER 8 Products and Services Analysis 20
CHAPTER 9 Competitors 23
CHAPTER 10 Company View 24
CHAPTER 11 Locations and Subsidiaries 26
11.1 Head Office 26
11.2 Other Locations 26
CHAPTER 12 Latest Company Comment 32
12.1 Barr: a major OC generic competitor 32
12.2 Eisai/Pfizer: long-term studies in favor of Aricept 32
12.3 Pfizer: end of Viagra lawsuit clears path for FSAD indication 33
12.4 Pfizer: major cost savings outweigh pipeline delays 34
12.5 Migraines: the triptan market hots up 35
12.6 Antifungals: empiric therapy supported in newborns 35
12.7 Pfizer: unsubstantiated claims fuss won't hit too hard 36
12.8 Eisai: relying on Aricept for revenues 37
12.9 Merck/Pfizer/Pharmacia: study favors Celebrex 38
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12.10 US pharma: compulsory OTC won't go down well 38
12.11 Pfizer: could pregabalin hype be premature? 39
12.12 Pfizer/Merck: Lipitor may beat Zocor to the $5 billion mark 40
12.13 GlaxoSmithKline: growth through research 40
12.14 Glaxo SmithKline: Happy New Year 41
12.15 Pfizer: Viagra a boost for prostate cancer patients 42
12.16 Pfizer/Corvas: sucking the blood out of the stroke market? 43
12.17 Pfizer: enriching the pipeline 43
12.18 Pfizer: no eternal patent life for virile Viagra 44
12.19 Flu remedies: out in the cold 45
12.20 Pfizer: still growing fast, despite Lipitor blip 45
12.21 Statins: new data, same game for BMS 46
12.22 Pfizer: more pressure on inhaled insulins 47
12.23 UCB: winning European market with novel anti-epileptic? 48
12.24 Pfizer strikes in the battle for the US Alzheimer's market 48
CHAPTER 13 Latest Company News 50
13.1 Zoloft wins FDA approval for treatment of posttraumatic stress disorder 50
13.2 Pfizer sets out to improve cholesterol awareness 50
13.3 Altana in marketing talks for asthma treatment 50
13.4 Pfizer allergy medicine Zyrtec-D receives FDA approval 50
13.5 Barr challenging patents protecting Estrostep Fe 50
13.6 Onyx amends Onyx-015 development agreement with Warner-Lambert 51
13.7 Pfizer's European method of use patent for ED declared invalid 51
13.8 Cholesterol lowering drug for treatment of Alzheimer's enters trials 51
13.9 Agouron ends Remune collaboration 51
13.10 Pfizer employs VSM MedTech's monitor in trials 52
13.11 Phytopharm cactus obesity drug proved safe 52
13.12 Metabolex and Pfizer amend genomics research partnership in diabetes 52
13.13 VistaGen win NIH cancer research grant 52
13.14 New study in Uganda to determine best preventive HIV methods 53
13.15 New data for inhaled insulin 53
13.16 Pfizer's migraine treatment Relpax wins European Union approval 53
13.17 GenVec receives patent for the improved formulation of adenovectors 53
13.18 Pfizer will offer Diflucan antifungal for no charge to HIV/AIDS patients in least
developed countries 54
13.19 FDA say Pfizer's Cardura is a safe and effective blood pressure treatment 54
13.20 Pharmacia and Pfizer dispute NY Times article 54
13.21 Norvasc's proves value in treating high blood pressure in diabetics 54
13.22 National Cholesterol Education Program guidelines emphasis need for LDL-
Cholesterol lowering in high risk patients 55
13.23 New anticancer mouthwash proves efficacy 55
13.24 Positive data released for Onyx's CI-1042 55
13.25 Celebrex and Vioxx have different blood pressure and edema effects 55
13.26 Paper encourages primary-care physicians and families to learn the early
signs of Alzheimer's disease 56
13.27 Geodon schizophrenia drug significantly better tolerated than other
treatments 56
13.28 Ibis receives milestone payment 56
13.29 Maxygen reach milestone in Pfizer collaboration 56
13.30 Pfizer signs up Dendrite for eTrials support 57
13.31 St. John's wort ineffective for major depression 57
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13.32 Pharmacia and Pfizer receive approvable letter for revised labeling for
Celebrex 57
13.33 Boehringer Ingelheim and Pfizer to market Spiriva 57
13.34 Lipitor trial reveals significant stroke reduction for some heart patients 57
13.35 Pharmacia submits new NDA for valdecoxib 58
13.36 Pfizer claims no link between Viagra use and heart disease 58
13.37 Aricept may reduce caregiver burden 58
13.38 South African regulator approves distribution of diflucan tablet 58
13.39 Pfizer adds support to collaboration of Academic Medicine and Pharmacy
Education 59
13.40 New report reveals high rate of disease among American workers 59
13.41 Blackstone to support genomics-based drug discovery at Pfizer 59
13.42 Pfizer restricts Pregabalin use in some clinical trial patients 59
13.43 FDA advisory committee reveals GI safety data for both COX-2 Inhibitors,
Vioxx and Celebrex 60
13.44 Pfizer Zeldox label warns about heart effects 60
13.45 FDA approves Pfizer schizophrenia medicine Ziprasidone 60
13.46 Strategic INFO enters into licensing agreement with Pfizer 60
13.47 Xenogen enters research agreement with Pfizer 60
13.48 Interneuron initiates Phase II trial of Pagoclone 61
13.49 Rigel and Pfizer amend deadline on renewal of collaborationan 61
13.50 BioTrove to collaborate with Pfizer 61
PFIZER INC: COMPANY OVERVIEW
SIC 2834 Pharmaceutical Preparations
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NAICS codes: 325412, 325414
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CHAPTER 1 COMPANY OVERVIEW
Pfizer is a global pharmaceutical and consumer products company, which discovers,
develops, manufactures, and markets medicines for humans and animals. For the
year ended 31 December 2000 the company had sales of $29.6 billion.
The company has three business segments: health care, animal health and consumer
health care. The company produces the impotence treatment Viagra, cholesterol-
lowering Lipitor and, for high blood pressure and angina, Norvasc. The animal
division produces treatment both for livestock and pets. The company's consumer
division produces the consumer drugs Listerine, Certs, Dentyne. Pfizer has
International operations, conducted both through their subsidiaries and through
distributors. Japan is its second-largest single national market. The company is
headquartered in New York, US.
PFIZER INC: BUSINESS DESCRIPTION
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CHAPTER 2 BUSINESS DESCRIPTION
Pfizer is a research-based, global pharmaceutical company. The company discovers,
develops, manufactures and markets medicines for humans and animals. Through a
number of subsidiaries and joint ventures the company is seeking out new treatments
for a full spectrum of ailments.
The company has a growth strategy based on research and development. Through a
network of research laboratories the company is involved in major research products
around the globe. In line with this strategy the company has an annual research
budget approaching $3 billion and launches an average of three new prescription
medicines each year.
The company operates through three divisions: health care, animal care and
consumer health care. These three core focuses are supported by the work of the
company's Global Research and Development division.
The health care division focuses mainly on prescription pharmaceuticals. The
company's products are used for treating cardiovascular diseases, infectious
diseases, central nervous system disorders, diabetes, erectile dysfunction, allergies,
arthritis and other disorders. Cardiovascular disease products that treat problems
affecting the heart and the blood circulatory system are Pfizer's largest therapeutic
product lines. With a portfolio that includes five of the world's 20 top-selling medicines
the pharmaceutical division accounts for nearly 80% of the company's sales.
Pfizer's Animal Health Group discovers, develops, manufactures and sells products
for the prevention and treatment of diseases in livestock, poultry and companion
animals. Its products include antibiotics, anti-parasitics, anti-inflammatories, vaccines
and related products for livestock and companion animals.
Pfizer's Warner Lambert Consumer Health Care Group products include non-
prescription over-the-counter medications, therapeutic skin care products and
personal care products. They include Listerine, Benadryl, Lubriderm, Neosporin,
Sudafed, Visine, Desitin, BenGay, and Schick.
PFIZER INC: HISTORY
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CHAPTER 3 HISTORY
The company traces its origins back to 1849 when cousins Charles Pfizer and
Charles Erhart founded Charles Pfizer and Company in Brooklyn, New York.
In 1928, Dr. Alexander Fleming's discovery of penicillin signaled the dawn of modern
medicine and offered real hope in the battle against infection. But penicillin couldn't
be manufactured in large enough quantities to help people until Pfizer pioneered its
mass production, just in time to save the lives of countless World War II servicemen.
The success of penicillin lead to the company's initial public offering in June 1942.
In 1950, Terramycin (oxytetracycline), a broad-spectrum antibiotic represented the
result of the company's first discovery program and became the first pharmaceutical
sold in the US under the Pfizer label. A new pharmaceutical company had been born.
The second half of the 20th century has been an era of unprecedented advances in
medical discovery, throughout the 1960s and 1970s, Pfizer continued to develop and
market new pharmaceuticals.
Parallel to development was an acquisition plan. In 1963 Pfizer purchased Desitin
Chemical Co., Inc., part of Pfizer's Consumer Health Care Division and maker of six
number-one over-the-counter brands including: Visine eye drops, Cortizone anti-
itch medicines, BenGay analgesics, Unisom sleep aids, and Rid pediculicides.
1995 saw the Animal Health Group purchase SmithKline Beecham's animal health
business, adding to Pfizer's development and production of pharmaceuticals for
livestock and companion animals.
The company's plan of investment into research began to pay off in the 1990s. The
renamed Animal Health Division introduced the products: Advocin (danofloxacin),
Aviax (semduramicin), and Dectomax (doramectin). Pfizer's roster of drugs grew
with the launch of Viagra (sildenafil citrate) in 1998, a treatment for erectile
dysfunction. Pfizer invested close to $2.5 billion in research into the product, which
quickly became a bestseller.
In the year 2000, Pfizer and Warner-Lambert merged to form the new Pfizer.
PFIZER INC: SWOT ANALYSIS
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CHAPTER 4 SWOT ANALYSIS
4.1 Overview
Pfizer Inc. is a leading, research-based pharmaceutical company. Pfizer is a leader in
the research-based healthcare industry, and its strengths lie in its innovative R&D and
strong marketing capabilities. When Pfizer's operations began in 1849, its focus was
on the research and development of innovative pharmaceutical compounds, and it is
this activity which remains core to the company's interests.
Strengths
R&D innovation with a broad therapeutic coverage
Marketing strength in major geographical and therapeutic areas
Patent protection for a number of years on key products
Opportunities
Decreasing development time through favorable R&D collaborations and internal
efforts
Globalisation for recently launched products
Co-marketing agreements with companies wishing to capitalize on Pfizer's marketing
strengths, providing
Pfizer with strong products and therefore revenue growth
Weaknesses
Discontinuation of products in the latter stages of development
Co-marketing agreements can limit Pfizer's global presence
Threats
Increased competition for Viagra as its high cost encourages use of cheaper
alternative treatments
An increase in the number of safety issues surrounding Viagra
Competition from products similar to Pfizer's in R&D that reach the market close to or
before Pfizer's products
PFIZER INC: SWOT ANALYSIS
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4.2 Pfizer Inc Strengths
Pfizer's strengths lie in its innovation with broad therapeutic coverage, its global
marketing strength, and its key product portfolio which remains product protected for
a number of years.
Pfizer has established itself as a global provider of innovative healthcare solutions,
and rather than focusing on a small number of specialist therapeutic areas, Pfizer
has, instead, concentrated on product innovation in any attractive therapy area, and
its current portfolio and R&D pipeline reflect this. It has strengths in a number of
therapeutic areas, and its size and strong market presence is sufficient to support this
diversity.
Pfizer has a global marketing strength, which has made it a very attractive marketing
partner for smaller or less experienced companies. The company's recognized
marketing strength will mean that opportunities for promising products are likely to be
discussed with Pfizer, giving it access to an array of promising compounds for sale on
the international market.
Pfizer's product portfolio is considerably stronger than a number of large
pharmaceutical companies, with the majority of its high selling products remaining
patent protected until 2002 and beyond. For Pfizer, the patent protection of its key
products places it in a strong, competitive position, and promises revenue growth for
a number of years to come.
4.3 Pfizer Inc Opportunities
Pfizer is increasing its efforts to reduce the time taken from completion of clinical trials
to launch date, and such efforts will be aided by the apparent reduction in time taken
for products to be approved.
Pfizer's establishment of co-development and marketing agreements reduce the time
and money Pfizer spends on bringing a product to market, with the partner doing the
early stage work prior to Pfizer's involvement. Shorter development times are a clear
advantage in revenues terms.
Pfizer is making continual efforts to increase the efficiency of its R&D operations. The
introduction of robotic high speed synthesis technology has had a significant effect on
the company's ability to create and modify new molecules. Pfizer has also pioneered
new clinical testing technologies, utilised in its early development programmes.
Pfizer's global presence means that newer products which have only been launched
in a relatively small number of markets to date can be exposed to a much larger
audience eventually, and Pfizer's ability to do this will greatly enhance the prospects
of these drugs.
PFIZER INC: SWOT ANALYSIS
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With its recognised marketing strength, Pfizer is likely to be considered a favoured
marketing partner for smaller companies who have exciting products in their
pipelines, and Pfizer will be in a strong position to negotiate agreements which offer
high financial rewards.
4.4 Pfizer Inc Weaknesses
Discontinuation of products in late stage development, its lack of promising products
in its early stage pipeline and the potential geographic, and therefore revenues
limitations for Pfizer through its establishment of marketing agreements for other
companies' products.
Concentration on the large number of products which it has launched recently, and on
its late stage development pipeline, has left its early stage pipeline somewhat weaker,
lacking promising products in phase I development able to support growth in the
longer term. This deficit in the R&D pipeline will not be manifest for a number of years
yet, and Pfizer is well placed to ensure that it balances its R&D pipeline before it
becomes a worry for the company.
Whilst the number of co-marketing agreements Pfizer has established are proving
very favourable for the company, agreements which geographically limit Pfizer's
activities for a particular product will reduce the income for the company. This is the
obvious price that has to be paid for reducing initial development costs, and some of
the risks associated with early stage R&D.
4.5 Pfizer Inc Threats
Whilst Pfizer has a number of strong products in its portfolio, it is Viagra that has
received a large amount of attention recently and its success will be important for
Pfizer. However, the huge cost of Viagra has been a highly discussed issue, with a
number of governments struggling to reach decisions over reimbursement issues.
Having increased the awareness of, and opened up the market for, erectile
dysfunction, Viagra's high cost may lead to the use of cheaper, alternative treatment
for the condition.
There have been a number of safety issues surrounding the use of Viagra. Because
of the high consumer awareness of Viagra due to extensive media coverage, the
continued safety concerns, combined with the impending launch of alternative oral
treatments, could have a significant adverse affect on the sales of Viagra. Pfizer
appears to have high expectations for Viagra, possibly implying an over dependence
on the success of one product. The high sales and marketing investment by Pfizer to
promote Viagra could damage the company's profitability if revenues from Viagra do
not live up to expectations.
PFIZER INC: KEY EMPLOYEES
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NAICS codes: 325412, 325414
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CHAPTER 5 KEY EMPLOYEES
Key Employees
First Name: Michael
Last Name: Brown(M.D.)
Middle Initial: S
Job Title: Director
Board Member: Board of Directors
First Name: M
Last Name: Burns
Middle Initial: Anthony
Job Title: Director
Board Member: Board of Directors
First Name: Robert
Last Name: Burt
Middle Initial: N
Job Title: Director
Board Member: Board of Directors
First Name: W
Last Name: Cornwell
Middle Initial: Don
Job Title: Director
Board Member: Board of Directors
First Name: William
Last Name: Gray(III)
Middle Initial: H
Job Title: Director
Board Member: Board of Directors
First Name: Constance
Last Name: Horner
Middle Initial: J
Job Title: Director
Board Member: Board of Directors
First Name: William
Last Name: Howell
Middle Initial: R
Job Title: Director
Board Member: Board of Directors
First Name: Stanley
Last Name: Ikenberry(Ph.D.)
Middle Initial: O
PFIZER INC: KEY EMPLOYEES
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Job Title: Director
Board Member: Board of Directors
First Name: Harry
Last Name: Kamen
Middle Initial: P
Job Title: Director
Board Member: Board of Directors
First Name: George
Last Name: Lorch
Middle Initial: A
Job Title: Director
Board Member: Board of Directors
First Name: Alex
Last Name: Mandl
Middle Initial: J
Job Title: Director
Board Member: Board of Directors
First Name: Henry
Last Name: McKinnell(Ph.D.)
Middle Initial: A
Job Title: President and Chief Executive Officer; President -
Pfizer Pharmaceuticals Group
Age: 57
Board Member: Board of Directors
Salary: US$984,100
Bonus: US$1,426,900
First Name: Dana
Last Name: Mead(Ph.D.)
Middle Initial: G
Job Title: Director
Board Member: Board of Directors
First Name: John
Last Name: Niblack(Ph.D.)
Middle Initial: F
Job Title: Vice Chairman - Pfizer Inc; President - Pfizer Global
Research and Development
Board Member: Board of Directors
Salary: US$832,500
Bonus: US$932,400
First Name: Franklin
Last Name: Raines
Middle Initial: D
Job Title: Director
Board Member: Board of Directors
PFIZER INC: KEY EMPLOYEES
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First Name: David
Last Name: Shedlarz
Middle Initial: L
Job Title: Executive Vice President and Chief Financial Officer
Age: 52
Board Member: Officer
Salary: US$695,100
Bonus: US$723,700
First Name: Ruth
Last Name: Simmons(Ph.D.)
Middle Initial: J
Job Title: Director
Board Member: Board of Directors
First Name: Michael
Last Name: Sovern
Middle Initial: I
Job Title: Director
Board Member: Board of Directors
First Name: William
Last Name: Steere(Jr.)
Middle Initial: C
Job Title: Chairman of the Board
Age: 63
Board Member: Board of Directors
Salary: US$1,616,000
Bonus: US$3,232,000
First Name: Jean-Paul
Last Name: Valls(Ph.D.)
Job Title: Director
Board Member: Board of Directors
PFIZER INC: KEY EMPLOYEE
BIOGRAPHIES
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SIC 2836 Biological Products, Except Diagnostic Substances
NAICS codes: 325412, 325414
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CHAPTER 6 KEY EMPLOYEE BIOGRAPHIES
Brown, Michael
Director
Distinguished Chair, Biomedical Sciences, Regental Professor, University of Texas
Southwestern Medical Center.
Burns, M
Director
Chairman of Ryder System, Inc.
Burt, Robert
Director
Chairman and Chief Executive Officer of FMC Corporation.
Gray, William
Director
President and Chief Executive Officer of The College Fund/UNCF.
Horner, Constance
Director
Guest Scholar at The Brookings Institution.
Howell, William
Director
Chairman Emeritus of J. C. Penney Company, Inc.
Ikenberry, Stanley
Director
President of the American Council on Education.
Kamen, Harry
Director
Former Chairman, President, and Chief Executive Officer of the Metropolitan Life
Insurance Company.
Lorch, George
Director
Chairman Emeritus of Armstrong Holdings, Inc.
PFIZER INC: KEY EMPLOYEE
BIOGRAPHIES
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NAICS codes: 325412, 325414
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Mandl, Alex
Director
Chairman and CEO Teligent, Inc.
McKinnell, Henry(57)
President and Chief Executive Officer; President - Pfizer Pharmaceuticals Group
Henry A. McKinnell, Ph.D., is president and chief executive officer of Pfizer Inc, a
member of Pfizer's board of directors and corporate management committee. He is
also president of the Pfizer Pharmaceuticals Group, the principal operating division of
the company. His direct responsibilities also include the worldwide Animal Health,
Consumer Health Care and the Corporate Strategic Planning and Policy Groups.
Hank McKinnell joined Pfizer in 1971 in Tokyo. Over the years, he held positions of
increasing responsibility for Pfizer subsidiaries around the world, including service as
president of Pfizer Asia, based in Hong Kong. He has also served as Pfizer's
president and chief operating officer, executive vice president, chief financial officer,
and president of Pfizer's Medical Technology Group.
Hank McKinnell is a member of the Board of Directors of Moody's Corporation and
John Wiley & Sons. He is currently the vice chairman of the Pharmaceutical Research
and Manufacturers of America [PhRMA] and a member of PhRMA's Executive
Committee. Additionally, he is a member of the Board of Directors of the Healthcare
Leadership Council, the Trilateral Commission, and the Stanford University Graduate
School of Business Advisory Council. He is chairman emeritus of the Business-Higher
Education Forum [B-HEF] and a member of the Boards of Trustees of the New York
City Public Library and the New York City Police Foundation.
Hank holds a Bachelor's Degree in business from the University of British Columbia,
and M.B.A. and Ph.D. degrees from the Stanford University Graduate School of
Business.
Mead, Dana
Director
Retired Chairman and CEO of Tenneco, Inc.
Raines, Franklin
Director
Chairman and CEO, Fannie Mae.
Simmons, Ruth
Director
President of Smith College.
Sovern, Michael
Director
Chairman of Sotheby's Holdings, Inc.
PFIZER INC: KEY EMPLOYEE
BIOGRAPHIES
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SIC 2836 Biological Products, Except Diagnostic Substances
NAICS codes: 325412, 325414
Pfizer Inc Reference Code: 1316
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Steere, William(63)
Chairman of the Board
William C. Steere, Jr. is Chairman of the Board and Chief Executive Officer of Pfizer.
Mr. Steere began his career with Pfizer in 1959 as a medical service representative.
He moved through a variety of marketing and management positions of ever-
increasing responsibilityboth domestic and internationaluntil his appointment as
President of Pfizer Pharmaceuticals Group in 1986. He was elected President of
Pfizer in February of 1991, President and Chief Executive Officer in May of 1991, and
Chairman of the Board and CEO in March of 1992.
Mr. Steere is a member of the Board of Directors of the Mt. Sinai-New York University
Medical Center, The Business Roundtable, Texaco Inc., Minerals Technologies Inc.,
the New York Botanical Garden, Metropolitan Life Insurance Company, and Dow
Jones Inc. He also is a member of the Executive Committee of the Memorial Sloan-
Kettering Cancer Center.
Valls, Jean-Paul
Director
Chairman of Minerals Technologies Inc.
PFIZER INC: PRODUCTS AND SERVICES
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NAICS codes: 325412, 325414
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CHAPTER 7 PRODUCTS AND SERVICES
Products:
Cardiovascular Diseases:
Norvasc
Procardia XL
Cardura
Tikosyn.
Diabetes:
Glucotrol XL
Infectious Diseases:
Zithromax
Diflucan
Trovan
Central Nervous System Disorders:
Zoloft
Aricept
Relpax
Metabolic Disorders:
Lasofoxifene
Arthritis:
Celebrex
Cancer:
Celebrex
Erectile Dysfunction:
Viagra
Allergy:
Zyrtec
Urology:
Darifenacin
Consumer Health Care:
BenGay
Visine
Cortizone
Desitin
Unisom
RID
Barbasol
PFIZER INC: PRODUCTS AND SERVICES
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Plax
Animal Health:
Revolution (marketed as Stronghold in Europe)
Vanguard
Leukocell
Clavamox
Anipryl
Dectomax
PFIZER INC: PRODUCTS AND SERVICES
ANALYSIS
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CHAPTER 8 PRODUCTS AND SERVICES ANALYSIS
Pfizer's performance is characterized not only by size, but also by growth. In 1999,
Pfizer had 20% revenue growth. Pfizer has set records in each of the past three years
with the most successful product launches in pharmaceutical history Lipitor, Viagra,
and Celebrex. These three young blockbusters joined seven strong growth products
Norvasc, Zoloft, Zithromax, Diflucan, Zyrtec, Aricept, and Glucotrol XL. Each of these
10 products is number one or number two in its field, with US patent protection until at
least 2004.
Prescription medicines and over-the-counter health care
Cardiovascular Diseases
Pfizer markets Norvasc, the world's largestselling medicine for hypertension and
angina. Sales of Norvasc increased 18% to over $3.0 billion in 1999. Since its
introduction in 1990, Norvasc has had more than 12 billion patient days of therapy
worldwide.
Sales of Procardia XL for hypertension and angina declined 27% to $521 million, due
in part to doctors' increasing emphasis on Norvasc.
Sales of Cardura, an alpha blocker offering clinicians and patients a unique, cost-
effective option for treating hypertension and benign prostatic hyperplasia (BPH),
increased 15% to $794 million in 1999.
Lipitor is the most-prescribed cholesterol-lowering product in the US, receiving more
than 43% of weekly new prescriptions for all cholesterol-lowering agents. Worldwide
sales of Lipitor, discovered and developed by the Parke-Davis Division of Warner-
Lambert and copromoted by Pfizer, totaled $3.7 billion in 1999.
Pfizer and Warner-Lambert have also begun development programs for a single
product that combines the active ingredients of Lipitor and Norvasc.
Pfizer will add to its cardiovascular product line with the first-quarter 2000 launch of
Tikosyn. This product is indicated for conversion to, and maintenance of, normal
sinus rhythm in highly symptomatic patients with atrial fibrillation (AF)/atrial flutter of
greater than one week duration.
Diabetes
Glucotrol XL, Pfizer's oral treatment for Type 2 diabetes, stimulates the pancreas to
release insulin, with convenient once-daily dosing, no weight gain, and no adverse
effects on blood lipids. Sales in 1999 rose 16% to $262 million.
Infectious Diseases
Pfizer's Zithromax is the most-prescribed brand-name oral antibiotic in the US.
Worldwide sales grew 28% to $1.3 billion in 1999.
Diflucan, the world's best-selling prescription antifungal product, achieved 9% growth
in sales to over $1.0 billion in 1999. This robust growth after 12 years on the market
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reflects the unique properties of Diflucan and the growing medical need that it
continues to fulfill.
Sales of Trovan were $86 million in 1999. In June 1999, based on reports of rare liver
side effects, European medical authorities suspended the European Union licenses of
Trovan for 12 months.
Central Nervous System Disorders
Pfizer's Zoloft treats depression and panic disorder as well as obsessive-compulsive
disorder in adults and children with strong efficacy and a favorable safety and
tolerability profile. In 1999, Zoloft became the second Pfizer-developed product to
achieve $2 billion in annual sales.
Aricept has been taken by more than a million patients with mild-to-moderate
Alzheimer's disease to enhance or maintain cognition. Discovered and developed by
Eisai Co., Ltd., and copromoted by Pfizer, the product preserves levels of a
neurotransmitter in the brain. Total worldwide sales grew 49% to $551 million in 1999.
In October 1999, Pfizer received an approvable letter from the FDA for Relpax, our
new treatment for migraine.
Metabolic Disorders
The Pfizer-developed compound lasofoxifene has shown promise in prevention and
treatment of osteoporosis, lowering of harmful blood lipids, and prevention of breast
cancer.
Arthritis
Celebrex, a new pharmaceutical co-promoted by Pfizer and the G.D. Searle division
of Monsanto Company, which discovered the drug, relieves the pain, inflammation,
and stiffness of OA and RA. With sales of $1.5 billion in 1999, Celebrex was the most
successful drug launch in pharmaceutical industry history. In its first year, more than
19 million prescriptions were written for Celebrex worldwide.
Cancer
In December 1999, the FDA approved Celebrex as the first COX-2 specific inhibitor
approved for treatment of familial adenomatous polyposis (FAP), a rare and
devastating genetic disease characterized by the development of hundreds to
thousands of polyps in the colon and rectum.
Erectile Dysfunction
The 1998 launch of Viagra for erectile dysfunction (ED) was one of the most talked-
about medical advances of our time. The product made further progress in 1999, with
a worldwide rollout and sales topping $1 billion.
Allergy
Pfizer's antihistamine Zyrtec, marketed as Reactine in Canada, provides strong,
rapid, and long-lasting relief for seasonal and perennial allergies and hives with once-
daily dosing. Sales in the US and Canada grew 33% to $552 million in 1999.
Urology
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Pfizer expects its compound darifenacin to provide a therapeutic profile superior to
the therapies currently available. Darifenacin progressed into Phrase III testing during
1999.
Consumer Health Care
Pfizer's Consumer Health Care Group (CHC) markets a broad range of self-
medication products. CHC sales, which are reflected in pharmaceutical sales,
increased 7% in 1999 to $561 million.
Six of CHC's nine major brands - including BenGay for the pain of minor arthritis and
muscle aches, and Visine eye care products - are number one in their category. Other
CHC brands include Cortizone anti-itch products, Desitin diaper rash products,
Unisom sleep aids, RID head lice treatments, Barbasol shaving cream, and Plax pre-
brushing dental rinse.
Animal Health
Pfizer's Animal Health Group (AHG) is a global supplier of animal medicines
unmatched in product-line or geographic breadth. AHG revenues grew 2% to $1.3
billion in 1999.
The pet antiparasitic market consists of medicines for external parasites such as fleas
and ticks, treatments for gastrointestinal worms, and heartworm preventatives.
Revolution, marketed as Stronghold in Europe, is the first product to treat all three
problems, and its US launch was one of the most successful in the history of animal
health.
Other important Pfizer companion animal products include Vanguard vaccines for
canine enteric disease, Leukocell vaccines for feline leukemia, Clavamox anti-
infectives, and Anipryl for Cushing's disease and Cognitive Dysfunction Syndrome in
dogs.
AHG produces leading antiparasitics, vaccines, and anti-infectives for cattle, swine,
and poultry. Dectomax, AHG's largest-selling product, protects cattle, swine, and
sheep from both internal and external parasites, providing the broadest spectrum of
control available.
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CHAPTER 9 COMPETITORS
Abbott Laboratories
American Home Products Corporation
Amgen Inc.
Aventis
Bayer AG
Becton, Dickinson and Company
Bristol-Myers Squibb Company
Carter-Wallace, Inc.
Colgate-Palmolive Company
Eli Lilly and Company
GlaxoSmithKline Plc
Johnson & Johnson
Merck & Co., Inc.
Novartis AG
Roche Holding Ltd.
Schering-Plough Corporation
St. Jude Medical, Inc.
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CHAPTER 10 COMPANY VIEW
A statement by Henry A. McKinnell, Ph.D, Chairman of the Board and Chief
Executive Officer of Pfizer Inc. follows. The statement is taken from the company's
Annual Report 2000.
With the closure in June 2000 of our acquisition of Warner-Lambert, Pfizer became
the largest pharmaceutical enterprise in the world. With a broad portfolio of market-
leading medicines and an unparalleled commitment to research and development,
Pfizer is doing more for human life than any other health care company has done
before.
Pfizer is a global leader in human pharmaceuticals, with particular strength in the
treatment of cardiovascular diseases, central nervous system disorders, bacterial and
viral infections, and women's health problems. We also have a large array of
excellent consumer health care, confectionery, and animal health products. In 2001,
Pfizer has budgeted approximately $5 billion for research and developmentmore than
any other pharmaceutical company in the world. In 2000, we achieved total reported
revenues of $29.6 billion, and eight of our pharmaceutical products attained sales of
at least $1 billion each. We foresee strong growth in average annual diluted earnings
per share of at least 25 percent through 2002.
Pfizer has an extensive portfolio of outstanding medicines, most of which are patent-
protected until well into this decade or beyond. Our major products include Lipitor
(atorvastatin calcium), the world's most-prescribed cholesterol-lowering agent;
Norvasc (amlodipine besylate), the world's largest-selling antihypertensive; Zoloft
(sertraline HCL), the most-prescribed antidepressant in the United States; Zithromax
(azithromycin), the largest-selling macrolide antibiotic worldwide and the number-one
branded oral antibiotic in the United States; Viagra (sildenafil citrate), the world's
leading oral treatment for erectile dysfunction; Neurontin (gabapentin), the best-
selling anticonvulsant drug worldwide for acute epilepsy; and Diflucan (fluconazole),
the best-selling prescription anti-fungal in the world. In all, Pfizer has nine medicines
that are number-one in their therapeutic categories.
Pfizer is a worldwide marketer of leading consumer self-medication products,
including such well-known brands as Halls, Benadryl, Sudafed, Listerine, Visine, Ben-
Gay, Efferdent, and Lubriderm. Our company's long experience in retail and over-the-
counter products offers a platform for future prescription-to-OTC switches.
As one of the world's largest animal health companies, Pfizer has taken a leading role
in discovering and developing vaccines and medicines that protect and enhance the
health of companion animals and livestock throughout the world.
Our products are the result of Pfizer's extraordinary commitment to research and
development. Currently, our company has 156 discovery and development projects
underway in nineteen therapeutic categories, from diabetes and inflammation to
osteoporosis and cancer. We have six major, state-of-the-art research campuses,
strategically located at key points throughout the world. Pfizer's research staff
exceeds 12,000 scientists, and we have a combined library of nearly two million
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compounds to screen against cellular and subcellular targetsor eceptorsin the search
for promising candidates to develop.
To do justice to the unprecedented number and quality of our products, we have
significantly increased the size of our global field force. In the United States,
physicians participating in the 2000 Scott-Levin survey ranked Pfizer's U.S. field
forces number-one in quality for the sixth year in a row.
Our strength in R&D, marketing, and sales has made Pfizer a partner of choice for
many companies in the pharmaceutical industry. We are involved in a wide variety of
research collaborations and a large number of licensing agreements with universities,
institutes, and organizations throughout the world.
Pfizer's exceptional performance prompted IndustryWeek to select us, for the fourth
consecutive year, as one of the world's 100 best-managed companies. Fortune
named Pfizer as the fifth-best "wealth creator" in America, and Forbes named Pfizer
to its "Platinum 400" list of the best big companies nationwide. For the third year in a
row, Working Mother named our company as one of the 100 best for working
mothers.
Since its founding in 1849, Pfizer has grown from a small family firm with two
employees and a single product into a global enterprise with 95,000 employees on six
continents. Our company's core valuesintegrity, respect for people, innovation,
performance, customer focus, leadership, teamwork, and communityprovide the
foundation for everything that we have achieved. I am convinced that the dedication
and hard work of our people, guided by the Pfizer values, will enable our company to
remain world's leading health-care enterprise for years to come.
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CHAPTER 11 LOCATIONS AND SUBSIDIARIES
11.1 Head Office
Pfizer Inc
235 East 42nd Street
New York
New York 10017
P: 1 212 573 2323
F: 1 212 573 7851
W: http://www.pfizer.com
11.2 Other Locations
Agouron Pharmaceuticals, Inc.
10350 North Torrey Pines Road
La Jolla
California 92037-1018
United States
P: 1 858 622 3000
Agouron Pharmaceuticals, Inc.
10350 North Torrey Pines Road
Suite 100
La Jolla
California 92037-1020
United States
P: 1 858 622 3000
F: 1 858 622 3298
W: http://www.agouron.com
Agouron Pharmaceuticals, Inc. / Alanex Division
3550 General Atomics Center
San Diego
California 92121-1122
United States
P: 1 858 455 3200
Capsugel
201 Tabor Road
Morris Plains
New Jersey 07950
United States
P: 1 973 385 4836
Glaxo SmithKline (Animal Health) Ltd
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New Frontiers Science Park
Third Avenue
Harlow Essex
CM19 5AW
United Kingdom
P: 44 1279 644000
F: 44 1279 644100
W: http://www.gsk.com/
Management Technology Group, Inc.
14 Inverness Drive East
Building E, Suite 100
Englewood
Colorado 80112
United States
P: 1 3037067100
F: 1 3037069088
W: http://www.mtginc.com
Pfizer Animal Health
601 West Cornhusker Highway
Lincoln
Nebraska 68521-3577
United States
P: 1 402 475 4541
Pfizer Animal Health
812 Springdale Drive
Exton
Pennsylvania 19341-2803
United States
P: 1 610 363 3100
Pfizer Animal Health
1 South East Pfizer Way
Lees Summit
Missouri 64081-2998
United States
P: 1 816 524 5580
Pfizer Canada Inc
17300 Route Trans-Canada
Montreal
Quebec H9J 2M5
Canada
P: 1 514 695 0500
Pfizer Global Research and Development
Eastern Point Road
Groton
Connecticut 06340
United States
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P: 1 860 441 4100
Pfizer Global Research and Development
Eastern Point Road
Groton
Connecticut 06340
United States
P: 1 860 441 4100
W: http://www.pfizer.com
Pfizer Inc
630 Flushing Avenue
Brooklyn
New York 11206-5026
United States
Pfizer Inc
100 Pfizer Drive
Terre Haute
Indiana 47802-8019
United States
P: 1 812 299 2121
Pfizer Inc
188 Howard Avenue
Holland
Michigan 49424-6596
United States
P: 1 616 39 2375
Pfizer Inc
100 Jefferson Road
Parsippany
New York 07054-3794
United States
P: 1 973 887 2100
Pfizer Inc
630 Flushing Avenue
Brooklyn
New York 11206-5026
United States
P: 1 718 780 8880
Pfizer Inc / Animal Health Group
235 East 42nd Street
New York
New York 10017
United States
P: 1 212 573 2323
F: 1 212 573 7851
W: http://www.pfizer.com
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Pfizer Inc / Consumer Health Care Group
235 East 42nd Street
New York
New York 10017
United States
P: 1 212 573 3373
F: 1 212 808 6235
W: http://www.pfizer.com/chc
Pfizer Inc. (Parent)
235 East 42nd Street
New York
New York 10017
United States
P: 1 212 573 2323
Pfizer Inc. / Adams Division
400 Interplace Parkway
Parsippany
New Jersey 07054-1120
United States
P: 1 973 540 2000
Pfizer Inc. / Parke-Davis Division
201 Tabor Road
Morris Plains
New Jersey 07950-2614
United States
P: 1 973 540 2000
Pfizer International Inc
235 E 42nd Street Floor 30
New York
New York 10017-5703
United States
P: 1 212 573 2323
Pfizer International Inc
235 East 42nd Street
New York
New York 10017-5703
United States
P: 1 212 573 2323
Schick Consumer Affairs
Pfizer Inc Warner Lambert Consumer Group
182 Tabor Road Building 2/2nd Floor
Morris Plains
New Jersey 07950
United States
P: 1 800 742 8377
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Schick Wilkinson Sword
10 Leighton Road
Milford
Connecticut 06460-3563
United States
P: 1 203 882 2100
Tetra/Second Nature
3001 Commerce Street
Blacksburg
Virginia 24060
United States
P: 1 5409515400
F: 1 5409515415
W: http://www.tetra-fish.com/
Valleylab, Inc.
5920 Longbow Drive
PO Box 9015
Boulder
Colorado 80301
United States
P: 1 303 530 2300
F: 1 303 530 6285
W: http://www.valleylab.com
Warner-Lambert Canada Inc
2200 Eglinton Avenue East
Toronto
Ontario M1L 2N3
Canada
P: 1 416 288 2200
Warner-Lambert Canada Inc
40 Bertrand Avenue
Toronto
Ontario M1L 2P6
United States
P: 1 416 288 2310
Warner-Lambert Company
201 Tabor Road
Morris Plains
New Jersey 07950-2693
United States
P: 1 973 540 2000
Warner-Lambert Company
5500 Forest Hills Road
Loves Park
Illinois 61111-7244
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United States
P: 1 815 877 8081
Warner-Lambert Company Consumer Health Products Division
400 West Lincoln Avenue
Lititz
Pennsylvania 17543-8799
United States
P: 1 717 626 2011
Warner-Lambert Company Consumer Healthcare Division
201 Tabor Road
Morris Plains
New Jersey 07950-2614
United States
P: 1 973 540 2000
Warner-Lambert Company Inc
2800 Plymouth Road
Ann Arbor
Michigan 48105-2430
United States
P: 1 734 996 7000
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CHAPTER 12 LATEST COMPANY COMMENT
12.1 Barr: a major OC generic competitor
Aug 17, 2001
Pfizer is reportedly suing Barr over the generics firm's challenge of its patent on
Estrostep.Since the FDA has already approved Barr's generic version of the oral
contraceptive, this lawsuit is unlikely to stop it reaching the market. The launch will
cement Barr's position as an important player in generic women's health products,
particularly following its merger with Duramed. This strength will increase Barr's
chances of developing higher margin proprietary women's health drugs.According to
recent reports, Pfizer is suing Barr Laboratories, in response to the company's
challenge of Pfizer's patent for its Estrostep Fe oral contraceptive (OC). Barr is in the
process of preparing to market its generic version of norethindrone acetate and
ethinyl estradiol, releasing the 1/20 mg, 1/30 mg and 1/35 mg tablets, having received
FDA approval to market the tablets in June 2001.
Despite Pfizer's efforts to protect this patent, Barr is expected to market its generic
version soon and benefit from this profitable OC. It should do well, as cheaper
generics are in demand, particularly due to recent policy changes in the US blocking
extra funding for family planning services. Although the new low-dose estrogen OCs,
Yasmin and Cyclessa, will challenge Barr's drugs, the latter's lower cost should
ensure rapid physician switching. At the same time, Barr's merger with Duramed will
significantly increase its capital base and hence its potential R&D base in women's
health.
The merged company will be a strong competitor in the OC market. In particular, the
generics market promises many opportunities for expansion and higher revenues.
Regulatory bodies have increasingly made concessions in favor of generic OCs'
increased use, to boost competition and thus to make them more affordable for heath
care purchasers.
In 2002, Barr is expected to reach $700 million in sales. Whilst Duramed's main
contribution is with Apri and Aviane, with sales expected to be in the range of $170
million for both these OC products, it also expects to file ANDAs for eight drugs, five
of which are hormonal products. Although Barr's tamoxifen has recently received bad
press due to an increased risk of estrogen-receptor breast cancer, the company has
allowed for these lower than expected sales. Barr is set to continue with its successful
investment in contraceptives and treatments for hormonal imbalance.
The expansion in the generic hormonal products market also significantly increases
Barr's chances of building on the high-volume, low-margin generics business to
exploit the rewards of the proprietary drugs market.
12.2 Eisai/Pfizer: long-term studies in favor of Aricept
Aug 16, 2001
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Two studies have shown that AD treatment Aricept maintains cognitive function for up
to a year.The two separate one-year studies provide further support for the long-term
use of Aricept (donepezil) in mild to moderate Alzheimer's sufferers. The drug already
dominates the global AD market and, while it does have some competition, the
growing body of supporting evidence should keep Aricept safe in the market leader
position for some time.The two studies, published in the latest issue of Neurology,
further set Aricept apart from its competitors. It is now the only prescription drug in the
cholinesterase inhibitor class that is supported for long term use by two one-year
placebo-controlled trials showing that it maintained cognitive function and preserved
patient function for up to one year.
In the brains of people with Alzheimer's disease (AD), there is a progressive
degeneration of nerve cells. Particularly notable is a degeneration of cells that make
acetylcholine, a chemical thought to be important for learning and memory. People
with AD have lower brain levels of acetylcholine. Pfizer/Eisai's Aricept acts by
'reversing' this process, but is not a cure for the disease. However, the drug it still in a
strong market position. Compared to its main rivals Novartis' Exelon (rivastigmine)
and Shire Pharmaceuticals/Janssen's Reminyl (galantamine), Aricept has been on
the market the longest (since 1996) and its effective symptomatic relief has been
supported by numerous studies.
The accumulation of this type of clinical supporting data has certainly paid off for Eisai
and Pfizer, making Aricept the market leading AD drug last year. In 2000, the global
AD market was estimated to be worth $922 million, of which about 83% was directly
from Aricept sales. The only other major competitor for Aricept is Exelon (global sales
of $110 million), but Reminyl is increasingly being seen as a potential threat with its
novel dual mechanism of action that leads to a release of even more acetylcholine.
Nevertheless, Pfizer and Eisai have not let their guard down once and these two long
term studies seem likely to further strengthen Aricept's market position.
12.3 Pfizer: end of Viagra lawsuit clears path for FSAD indication
Aug 03, 2001
A California court has dismissed allegations questioning the safety of Pfizer's
Viagra.It's the latest in a line of complaints over Viagra's cardiovascular safety to be
dismissed by the courts, encouraging further use and research of the drug. Although
initial studies testing Viagra in female sexual arousal disorder were unconvincing,
recent studies show it may be beneficial. Pfizer should carry out further research into
the drug for this large indication.Recent studies have tried to prove Viagra (sildenafil
citrate)'s effectiveness in women and there is some evidence to suggest that it is
beneficial for the treatment of Female Sexual Arousal Disorder (FSAD). However,
there is not at present enough data available to prove its effectiveness. Viagra is
efficacious in men, and studies have been initiated to explore whether the sexual
arousal mechanisms in men and women are similar, as this could make a much
stronger case for the prescription of Viagra for women.
Since the drug's launch in the United Kingdom, in 1988, there have been reports of
60 men dying from heart-related problems after taking the drug. Although prescribing
of Viagra is restricted, there are approximately 300,000 National Health Service
(NHS) prescriptions for Viagra each year. The latest California results are
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encouraging for men who are already taking the drug and may encourage the UK
government to relax restrictions on who can and cannot be prescribed the drug.
Viagra offers a major advantage over many products in development because it can
be administered orally. The issue of convenience is likely to be an important one in
the uptake of FSAD products. There are a number of trials in progress testing
different chemical agents and different modes of action for the treatment of FSAD.
However, the results have remained unconvincing. Nastech's intranasal
apomorphine HCl, a dopamine agonist, might be useful in treating psychologically-
induced sexual dysfunction in women, but its exact action is not known. Nexmed's
Femprox (alprostadil) is currently in Phase II trials as a topical treatment for FSAD.
FSAD has a large market potential because more women are willing to seek medical
advice about this disorder. Companies can increase their marketing activities among
medical providers who will seek effective treatment solutions, as well as targeting
women directly and providing them with sufficient information on effective FSAD
treatments.
12.4 Pfizer: major cost savings outweigh pipeline delays
Jul 18, 2001
Pharma giant Pfizer has announced Q2 profits of $1.89 billion, up 30% on Q2 last
year.Pfizer's profits continue to grow, proving that it is benefiting from cost savings
promoted by the merger with Warner-Lambert. While the delay to expected
blockbuster diabetes drug Exubera could hit Pfizer's medium term sales growth, its
rich longer-term pipeline should ensure strong growth into the future.Pfizer's strong
results, which matched analysts' expectations, were due as much to cost savings
from the Warner-Lambert merger as from strong drug sales. In fact, sales of some
leading products were lower than expected. Sales of the anti-cholesterol blockbuster
Lipitor grew by just 14% to $1.44 billion in Q2. Pfizer blamed the shortfall on
unreliable inventory controls in Q2 2000, when Warner Lambert managed the drug.
Pfizer said the rate would return to nearer 20% in the next three months.
On a downbeat note, Pfizer indicated it may delay seeking FDA approval for Exubera,
an inhaled form of insulin which is expected to be a blockbuster with peak annual
sales of $1 billion. The delay seems to be prompted by clinical trials results presented
last month showing that four times as many patients inhaling the drug developed
antibodies against insulin than those who injected it. Moreover, one of the 1,000
Exubera patients developed scarring of lung tissue.
After its merger with Warner-Lambert, Pfizer is the largest pharmaceutical company
by prescription sales and now markets eight medicines with annual global sales of
more than $1 billion. In order to continue its double-digit percentage earnings growth,
the company needs to keep developing new blockbusters. The delay to Exubera,
which could extend development by up to a year, is a problem; Datamonitor estimates
every single day's delay in getting a blockbuster to market can cost its maker $1-5
million.
Over the longer-term, the company's rich drug portfolio should secure its future
profitability. For instance, Pfizer has cardiovascular compounds in every other stage
of human development, indicating that the CV market will remain an important target.
This is unsurprising given the contribution that this market currently makes to Pfizer's
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revenues. In particular, as part of its longer term strategy, the company will be trying
to identify potential future blockbusters to replace revenues of antihypertension drug
Norvasc (from 2007) and Lipitor (from 2009) as they go off patent.
12.5 Migraines: the triptan market hots up
Jun 21, 2001
The EU has approved Pfizer's migraine drug Relpax, while Japan has approved GSK
and AZ's triptans.Relpax's approval will create a fierce battle in the EU between the
three third generation triptans. The entry of Pfizer should also revolutionize triptan
marketing, particularly in the US. And in Japan, where the older triptans have just
been approved and Relpax's approval is expected soon, the previously underserved
market is set to come to life.Pfizer's novel acute migraine treatment, the third
generation triptan Relpax (eletriptan), was granted European approval late last week.
Meanwhile, two older triptan drugs, AstraZeneca's Zomig (zolmitriptan) and
GlaxoSmithKline's Imigran (sumatriptan) have both been approved for marketing in
Japan.
The triptan class has been the front line acute migraine treatment since the launch of
Imigran, the current gold standard treatment, in 1993. The total market for migraine
drugs alone in 2000 was estimated to be worth over $2.1 billion. Imigran, still the
market leader, had revenues of over $1 billion.
Relpax's approval in the EU means that all three of the third generation triptans have
now been approved - and in some cases launched - in the EU. The other two are
Almirall-Prodesfarma's Axert (almotriptan) and Vernalis' Frovelan (frovatriptan), which
is marketed in Europe by Menarini. Thanks mainly to Pfizer's marketing machine,
globally Relpax should be the most successful in dollar revenue terms.
This will not necessarily be the case in Europe. Since Almirall-Prodesfarma have
entered into a series of strong marketing agreements with companies, such as Bayer
in Germany, which have considerable knowledge of their native market, Axert will put
up a serious challenge to the drug. Nonetheless, Pfizer's anticipated driving of the
triptan market to the primary care physicians in the US is expected to ensure that
Relpax is the leading third generation triptan overall - and to revolutionize the market
in general.
Japan is a rather different market. Even though it is generally considered the world's
second largest individual pharmaceutical market, it has been severely underserved in
terms of the triptan class. Only the injectable (and least popular) formulation of
sumatriptan has been available there. The approval of Imigran and Zomig in their
tablet formulations - and the forthcoming approval of Pfizer's compound - will hot up
competition in the Japanese migraine market considerably.
12.6 Antifungals: empiric therapy supported in newborns
May 15, 2001
A new Dutch study highlights the risk of fungal infections in newborns.Empiric
antifungal therapy is gaining importance in patients receiving heavy antibacterial or
immunosuppresant treatment; this new data should further boost its use. The
fungicidal echinocandins, spearheaded by Merck's Cancidas, should target this
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potential, gaining share from Pfizer and Janssen's market leaders Diflucan and
Sporanox.A new study, carried out at the University of Nijmegen, targeted nosocomial
fungal infections of the blood, because these are a significant cause of morbidity and
mortality in newborns. Diagnoses of infections such as candidemia are difficult to
confirm and may not be differentiated from a bacterial infection until after antibacterial
treatment. In addition, extensive antibacterial treatment and antibacterial prophylaxis
in tertiary care increase susceptibility to fungal colonization due to the eradication of
commensal bacteria.
Extensive antibacterial exposure, long periods of intensive care, pronounced
elevations in C-reactive protein levels and low platelet levels are indicative of a risk of
fungal infections. The Dutch study concluded that the presence of these risk factors in
an infant with signs of sepsis justified the empiric (before diagnosis is confirmed) use
of antifungals. This result should boost the drugs' use.
While the empiric antifungal market has favored Pfizer's Diflucan and Janssen's
Sporanox in the past, the new fungicidal echinocandins such as Merck's Cancidas
have potential to capture a significant proportion of this market. Merck, Fujisawa and
Versicor are likely to capitalize on their opportunities in this growing market by
targeting candidemia as an indication for their novel products. BMS' Fungizone is
contraindicated on the grounds of its excessive toxicity, while lipid-complexed
amphotericins are excessively costly for prolonged prophylaxis.
The market for empiric antifungal therapy is being driven by the extensive use of
antibacterials and immunosuppressants. Transplant recipients and surgical patients
are recognized risk groups but the Dutch study highlights that newborns are also
increasingly susceptible. The increasing use of immunosuppressants is expanding
the neutropenic population who are at high risk of infection by serious hospital-
acquired pathogens.
12.7 Pfizer: unsubstantiated claims fuss won't hit too hard
Apr 27, 2001
Pfizer has withdrawn an ad for its oral contraceptive Estrostep, following an FDA
complaint.It's not really such bad news for Pfizer. While the FDA's refutation of
Estrostep's claimed weight-gain advantages will impact negatively on the original
advertisement's intended audience, the complaint has gained Estrostep a great deal
of publicity. And the weight-loss claims might prove more persuasive to some non-
specialist readers than the FDA's refutation.Pharma giant Pfizer has had to withdraw
an advertisement for its oral contraceptive Estrostep, which claimed that the drug had
beneficial weight-gain effects. The claim was based on clinical trials data showing
Estrostep patients gained only two pounds more weight than placebo patients,
implying this to be significantly better than competing products. However, the FDA
has pointed out that this difference is not statistically significant - and in any case,
weight gain was not a recognized endpoint of the trial.
The decision to use reduced weight gain as a sales benefit for advertising purposes
was, according to Pfizer, due to the impact that weight gain has on compliance to
contraceptive regimens. This rather brings into question why Pfizer didn't present the
clinical trials data in a way that would have given the claim sufficient foundation for
subsequent use, rather than having to pull the advertisement and attract the resulting
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negative publicity. But actually, Pfizer may have accidentally made a comparatively
good move.
The FDA's complaint will have gained sufficient profile to diminish the impact of the
promotional material on its intended audience, namely the readers of the American
Journal for Nurse Practitioners and OBG Management amongst other publications.
But revising the advertising campaign for these readers would be likely to cost Pfizer
more than the impact of the FDA complaint will. And publicly admitting the product's
shortcomings could damage Estrostep's image still further. But as well as 're-
educating' this audience, the FDA complaint will have increased the profile of the drug
to an extended population.
The press coverage of the complaint will have broadened public awareness of the
brand name. So, although the advertisement has been withdrawn, awareness of
Estrostep is set to increase. And although the FDA has stated that the difference in
weight gain between Estrostep and placebo is not significant, the figures that Pfizer
stated in the ad may well present the most powerful evidence for any clinical
difference to a broader readership.
12.8 Eisai: relying on Aricept for revenues
Mar 22, 2001
Eisai has published growth forecasts to 2006 that outline its dependence on
Aricept.Aricept is the gold standard Alzheimer's treatment and will continue to
dominate the market, thanks both to its efficacy and to Eisai and Pfizer's skillful
marketing. On top of this success, Eisai may also be able to expand its patient base
through an additional indication for mild cognitive impairment in 2006.In 2000, the
global Alzheimer's disease market was estimated to be worth $922 million. Of this
figure, Aricept, co-marketed by Eisai and Pfizer, contributed a huge 85%. Since its
launch in 1996, Aricept has come to dominate the market, principally through its high
tolerance and proficient side effect profile. Revenues of the drug are also helped
through its patient friendly once daily dosage regimen.
Eisai has forecast that Aricept will achieve global revenues of $808 million in 2001, up
from $761 million in 2000. This projected increase in sales assumes that the drug will
maintain its huge margin over its principal rival, Novartis' Exelon. This compound only
achieved sales of $110 million in 2000, a paltry figure in comparison to Aricept.
Aricept's growth has been driven by a sustained campaign by Eisai and Pfizer
comparing it to Exelon and other rivals such as Cognex and Reminyl. For example,
press releases have highlighted the double-daily dosing of Exelon and the fact that
Aricept is the only Alzheimer's drug that offers efficacy with the initial starting dose.
Aricept is currently undergoing a three-year study to highlight its potential benefit in
delaying the onset of Alzheimer's disease in patients with mild cognitive impairment
(MCI). Results presented at the World Alzheimer's 2000 Conference suggest that
large proportions of MCI patients are really expressing early manifestations of
Alzheimer's disease pathology. If Aricept's trials are successful and it manages to
achieve FDA approval, then its patient potential will increase resulting in an
expansion of its commercial dominance. Coupled with the recent US patent extension
to 2010, such a move would ensure that Eisai's forecasts are met, or more likely,
exceeded.
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12.9 Merck/Pfizer/Pharmacia: study favors Celebrex
Mar 21, 2001
Results have been released from a study comparing Merck's Vioxx and
Pfizer/Pharmacia's Celebrex.The study shows that Vioxx patients showed a
significant rise in blood pressure, while Celebrex patients showed no such rise. Whilst
Merck has played down the study's importance, Pfizer and Pharmacia may well use
the results to further improve the market position of Celebrex, which is already the
leading drug in the class.Results were presented this week at the American College
of Cardiology's annual meeting from a study into hypertensive osteoarthritis patients
taking Merck's Vioxx (rofecoxib) and Pfizer and Pharmacia's Celebrex (celecoxib).
The results look favorable for Celebrex.
The study indicates that elderly hypertensive osteoarthritis patients on Vioxx
experienced a statistically significant rise in average systolic blood pressure
compared with patients on the drug's main competitor, Celebrex. The Celebrex
patients demonstrated no increase in average systolic blood pressure. The data can
be used to compare the safety of these two rival COX-2 inhibitor drugs. The outcome
data is particularly important because it was conducted on patients with both
osteoarthritis and high blood pressure, a patient population considered to be clinically
relevant.
According to the study's lead investigator Dr Andrew Whelton, there is a high co-
morbidity of arthritis and hypertension, prompting researchers to investigate the
possible connection between cardiac-related side effects and arthritis drugs. Vioxx
and Celebrex are tight competitors, and therefore continually make strides to prove
their safety and effectiveness against each other. The two drugs compete in a critical
market: approximately 43 million Americans suffer from arthritis and 42% of these
patients also have hypertension. An estimated 20.7 million suffer from osteoarthritis
specifically.
Celebrex already holds a competitive advantage, as it is the only COX-2 specific
inhibitor approved for both osteoarthritis and adult rheumatoid arthritis. Although
Merck yesterday issued a press release denying that the study is important, the
results could well boost Celebrex's favor further and may be utilized by its co-
marketers Pfizer and Pharmacia to position the product against its main competitors.
Celebrex is already the number-one selling prescription arthritis medication globally,
with sales for 2000 reported to be $2.6 billion.
12.10 US pharma: compulsory OTC won't go down well
Mar 20, 2001
A meeting of the FDA could switch drugs to OTC status against manufacturers'
will.Based on a petition from insurer Blue Cross, the FDA will hold a Nonprescription
Drugs Advisory Committee to consider the switch to over-the-counter status of a
number of leading antihistamines. Unusually, this switch is likely to be challenged by
the drug manufacturers themselves. With large sums at stake, the fight will be
fierce.In a potentially unprecedented move, the health insurer Blue Cross of California
has filed a petition with the FDA to have a number of prescription (Rx) antihistamines
switched to over-the-counter (OTC) status. The drugs involved in this petition include
Schering-Plough's Claritin (loratadine), currently the lead selling antihistamine,
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Aventis' Allegra (fexofenadine) and Pfizer's Zyrtec (cetrizine). Blue Cross claims that
these products are safer than currently available OTC antihistamines. It also claims
that by maintaining the drugs' Rx status, the pharmaceutical companies are denying
patients access to quality drugs.
While this is a noble cause, the response from the pharmaceutical companies
indicates that cost savings for Blue Cross are actually the main driver of this petition.
Currently low and non-sedating antihistamines are the fifth or sixth highest coverage
category, by dollar amount per therapeutic class, covered by insurers. By switching
these drugs from Rx to OTC a significant cost saving would be made by the insurer.
The response of the pharma companies suggests such a switch would be bad news.
All three drugs are currently patent protected and recording sales from $500 million to
$3 billion. Data collected between 1997 and 1998 suggest that the average cost of an
OTC drug was $5 to $7 compared to approximately $17 for the average brand-name
medication - the pharma would therefore face a significant drop in revenues despite
the high sales generated by the products in question. Conversion to OTC would also
introduce threats from generic OTC competitors.
With this in mind Schering-Plough, Aventis and Pfizer are unlikely to sit back and give
an OTC switch an easy ride. The threat to current sales and the future sales of
reformulated products will force the companies into action.
12.11 Pfizer: could pregabalin hype be premature?
Feb 14, 2001
Pfizer has halted Phase III trials of its hotly tipped anticonvulsant compound after
tumor fears.
Evidence of a statistically significant incidence of tumors associated with pregabalin
treatment could significantly jeopardize the potential status and revenue produced by
the drug, both in the pain market and elsewhere. Pfizer must act quickly to disprove
the findings if the drug is to have a successful future.
All clinical trials involving pregabalin being conducted on humans have been halted
after it was found that the incidence of a specific unnamed tumor in mice receiving the
drug was statistically significant. The effect of this could be varied and far-reaching.
The least it will do is slow down the application process of the drug across all the
disease areas that Pfizer is applying for approval. The FDA will more closely examine
the trial results and could obligate Pfizer to provide further safety data.
With regard to the pain market specifically, the trials have now been limited to use in
patients who have already failed to respond to 'standard therapy'. This means that the
drug will at best be a second line treatment, limiting its potential revenues in the pain
market. Pregabalin will also be left competing on an even keel with other
anticonvulsants used in the treatment of pain, such as Janssen's Topamax
(topiramate).
Worse still, the announcement is likely to impact further than merely jeopardizing
pregabalin's pain indication, as the side effect is not disease specific. Pregabalin will
also inevitably receive a certain amount of bad press, and in the process will have its
reputation tarnished before approval. The potentially drastic impact on revenues was
reflected even yesterday as Pfizer's shares dropped almost 30 cents a share.
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Pregabalin was predicted to follow in the steps of Neurontin (gabapentin) and reach
blockbuster status once the revenues from all the indications it was expected to gain
were combined. However, the earnings potential of the drug have been compromised
by these findings. Pfizer must move quickly to disprove them, if it is to limit the
damage done to pregabalin's reputation.
12.12 Pfizer/Merck: Lipitor may beat Zocor to the $5 billion mark
Feb 08, 2001
Pfizer's anti-dyslipidemic drug Lipitor exceeded $5 billion in sales for 2000.
Preliminary results suggest that in 2000, Lipitor may have outsold its biggest rival,
Merck & Co.'s Zocor. Lipitor's success is a testament to the great marketing, sales
and R&D strength of the merged Pfizer/Warner-Lambert. Pfizer should continue to do
extremely well in this market.
In 1999, Merck & Co.'s statin Zocor remained the highest selling lipid lowering drug,
with global sales of $4.5 billion. Warner-Lambert's Lipitor generated $3.7 billion, up by
71% from $2.2 billion in 1998. But for 2000, although Zocor's sales have been
substantial at an estimated $4.9 billion (pro forma Q1-4), this is not enough to remain
ahead of Lipitor, which achieved sales of over $5.0 billion during the same period.
From its launch early in 1997, Lipitor has shown amazing growth. In June 2000 its co-
marketing partners, Pfizer and Warner-Lambert, merged to form Pfizer Inc. and this
new corporation became the first company to pose a tangible threat to the long-lived
supremacy of Merck & Co. in the cardiovascular disease market. Lipitor's success
has shown that combining forces gave Warner-Lambert and Pfizer the necessary
marketing strength to leverage the massive potential of the drug. Indeed, the success
and potential of Lipitor was a major driver behind the merger of the two companies.
The merger of Pfizer and Warner-Lambert has created, in cardiovascular positioning
at least, a formidable force. The positioning of the new company stems from three key
elements: rapid growth and high sales, provided by Lipitor; stability from a broader
base of high-selling cardiovascular products; and competitive strength from
combining the marketing and R&D expertise of Pfizer and Warner-Lambert.
Merck, meanwhile, seems to have downgraded development within its cardiovascular
portfolio: although it is developing a number of cardiovascular products for additional
indications, it has no new compounds in late stage clinical development. As far
cardiovascular therapy is concerned, it looks like Merck will be forced to yield its long-
standing position as the cardiovascular front-runner unless it can find an attractive
target for merger or acquisition, or a significant licensing opportunity.
12.13 GlaxoSmithKline: growth through research
Jan 12, 2001
GlaxoSmithKline has announced it will increase its R&D budget.The newly-merged
GSK will spend all the cost savings from the merger on R&D. This is a vital move for
the company in today's pharma industry - at the moment its spend lags behind major
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rival Pfizer. Increased R&D spending should help GSK to maintain its almost
unprecedentedly large market share.GlaxoSmithKline (GSK) has announced that it
will spend any cost savings generated by merger synergies on increased R&D. The
company finally came into being when Glaxo Wellcome and SmithKline Beecham, the
two largest pharmaceutical companies in the UK, completed their merger at the end
of last year. GSK challenges Pfizer for leadership of the global pharmaceutical
market, with a strong position in most of the key markets. As with Pfizer (incorporating
Warner-Lambert), GSK's size is outstanding. In 1999, no pharmaceutical company
had a larger global market share than approximately 4%. Now GSK and Pfizer both
have around 7%.
A concern for GSK could be Pharmacia and Upjohn's example. Three years after its
1995 merger, its revenues were 3% down compared with 1995 sales. But Pfizer's
incorporation of Warner-Lambert shows that slowdown does not have to be the norm.
Revenues from the new company's ethical division grew by 12% in the nine months
ending October 2000, compared to the same period in 1999.
The new pharma giants need to drive their future growth with huge R&D spends. With
a combined spend of $4.7 billion in 2000, Pfizer/Warner-Lambert more than doubled
the previous biggest spend of around $2 billion. GSK is lagging behind this at present,
with a combined 2000 R&D budget of around $3.7 billion. GSK clearly needs to
increase this in the future if it is to create new drugs that maintain its market share
relative to Pfizer. So its pledge to invest any cost savings generated through merger
synergies into R&D is a good move. The company has also established a new R&D
management structure, creating small divisions that will compete for funding, in an
attempt to ensure that the most commercially promising projects receive investment.
Again, this should boost future growth.
Increased and more directed R&D investment is likely to be crucial to the long-term
success of the company. However, investors may be disappointed at the reduced
short-term gains this will entail.
12.14 Glaxo SmithKline: Happy New Year
Dec 18, 2000
The FTC has given the go-ahead for SmithKline Beecham and Glaxo Wellcome's
merger.
The year will end happily, but ongoing FTC reviews could still add further aggravation
to the world's largest pharmaceutical company - already delays and divestitures have
cost it dearly. Glaxo SmithKline must work hard in 2001 to make up for the losses and
realize the merger's full potential. The lesson is clear: mega-mergers need
microscopic planning.
It's been a long year - plans for the merger were first announced in January 2000.
The European Commission gave its blessing in May, followed by shareholder
approval in July. Finally, the more fussy Federal Trade Commission (FTC) has given
the green light, after requiring a number of divestitures - Kytril (anti-nauseant), Famvir
(Herpes, antiviral) and Vectavir/Denavir (Herpes, antiviral). Glaxo says that the FTC's
consent decree contained no provisions regarding its anti-smoking products, although
the FTC has indicated that it will continue various reviews after the completion of the
merger.
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The continuing review of Glaxo's and SB's anti-smoking products will cause some
concern, however. In the US, SmithKline's Nicorette and NicoDerm have secured
90% of the over the counter (OTC) smoking-cessation market, creating a franchise
worth over $692 million in 1999.
The FDA investigation into Paxil adds to the regulatory fray, perhaps inducing future
losses. Any sell-off of these drugs will be a terrible blow to GlaxoSmithKline, which
has already parted with products worth over $600 million in 1999.
The delays have also been costly. It was originally estimated that the union would
save over $100 million in its first year of conception. Now that saving will not see its
realization until next year. Intangible costs include the embarrassment of having
deadlines moved from August to September and then from September to December.
Meanwhile, the newly merged Pfizer/Warner-Lambert, will have consolidated its
operations and recast itself as a virtual powerhouse in the pharmaceutical market.
The year will finally close for GlaxoSmithKline with a happy ending. But it will have to
work doubly hard next year to make up for what it has lost in time, savings and share
value. Any other companies looking at a similar scale merger should make their New
Year resolution now: plan ahead and plan well.
12.15 Pfizer: Viagra a boost for prostate cancer patients
Dec 14, 2000
A new study confirms Viagra's anti-impotence activity in radical prostatectomy
patients.Erectile dysfunction is one of the commonest side effects in prostate cancer
patients who have undergone radical prostatectomy. Until now, a lack of evidence
that Viagra works for these patients has left it little used. However, this new study
suggests it is an effective treatment - boosting both Pfizer's sales and prostate cancer
patients' quality of life.Almost 100% of patients with prostate cancer experience a
permanent decrease in their ability to have an erection following radical
prostatectomy. Patients who have undergone prostatectomy may, however, have
reasons to rejoice following trial results suggesting that Pfizer's sildenafil (Viagra) may
provide a cure for their erectile dysfunction.
Marketed in all the major pharmaceutical markets, since its initial US approval in 1998
Viagra has dominated the market for impotence. However, the use of the drug on
prostatectomy patients has not been popular, due to the lack of evidence
demonstrating the drug's potential. But recent efficacy data on Viagra in post-
prostatectomy patients suggests that over 70% of patients undergoing bilateral nerve-
sparing prostatectomy are likely to have their sexual function restored to a level
allowing them to have intercourse following Viagra therapy.
Not only does Viagra offer the potential for restoration of sexual function in patients
with prostate cancer who have undergone nerve-sparing prostatectomy, but it also
offers a more convenient and well-tolerated therapy than penile implants, which have
often been suggested as first line treatment. This has got to come as good news both
for Pfizer and for prostate cancer patients.
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12.16 Pfizer/Corvas: sucking the blood out of the stroke market?
Nov 29, 2000
Pfizer and Corvas' new anti-inflammatory compound has entered phase IIb trials for
stroke.There are no products presently indicated to prevent reperfusion injury, which
is responsible for a large proportion of stroke-associated brain damage. If the new
compound proves effective in clinical trials then its market potential is enormous. It
would become the 'gold standard' treatment for reperfusion injury in stroke.Corvas
International and Pfizer today announced they are starting a phase IIb dose-ranging
study of UK-279,276, a drug inspired by the secretions of blood-feeding hook worms.
It is being developed for the treatment of reperfusion injury, which can occur after
initial acute stroke therapy with thrombolytics. The study will evaluate the compound
for its safety and tolerability in the treatment of reperfusion injury in patients suffering
from acute ischemic stroke.
Stroke is the third leading cause of death in the US. More than 600,000 of the
720,000 individuals who suffer strokes each year in the US have ischemic strokes.
Ischemic stroke occurs when a clot blocks blood flow to the brain, causing oxygen
deprivation and hence cell death. When the clot is dissolved with thrombolytics, the
restored blood flow can also cause severe brain damage, due to an acute
inflammatory response. This is known as reperfusion injury. UK-279,276 is a potent
anti-inflammatory that inhibits the release of the toxic substances that cause cell
damage and death.
The annual direct and indirect healthcare cost in the US associated with stroke and
stroke-related brain damage is estimated to be $30 billion. Although it remains
unclear how much of this can be attributed to reperfusion injury related brain damage,
it is certainly an appreciable amount. At present there are no approved products for
reperfusion injury, so if this drug is indicated for its prevention and treatment, it will be
able to capture this market without competition. Corvas should also be able to enter
marketing collaborations with leading companies to encourage combination use with
thrombolytics.
If clinical trial results are positive for UK-279,276, it has a good future. As costs
become more and more constrained, it could become the new 'gold standard' in the
treatment of reperfusion injury in acute ischemic strokes.
12.17 Pfizer: enriching the pipeline
Nov 24, 2000
Pfizer is to radically restructure its R+D.
This is a unique move that spreads drug discovery over eight sites and centralizes
drug development at one global location. The innovative restructuring will be
supported by a $4.5 billion budget. The strategy aims to sharpen R+D performance
and reduce costs. The new focusing has the potential to be highly successful.
Pfizer is doing its best to stimulate innovation while benefiting from economies of
scale. Given that research will be carried out in separate units, the excitement
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normally associated with small discovery outfits can be fostered, which has enormous
potential to boost productivity and speed delivery. Similarly, drug development,
concentrated on a single site, will benefit from reduced costs achieved by sharing
technologies.
A similar structure is planned for Glaxo SmithKline, the company to be formed from
the merger of GlaxoWellcome and SmithKline Beecham. But at Glaxo SmithKline the
idea will be taken a step further, as up to eight centers in drug discovery will operate
as separate profit units and compete for internal funds. In time, external venture
capital partners may be involved, creating financial incentives for efficiency and
allowing risk-sharing on large projects.
Decentralization is a pioneering approach in the pharmaceutical industry. It is an
innovative means to maximize and deliver the potential of large R+D budgets. With a
budget of $4.5 billion in 2001, Pfizer holds the largest R+D purse in the industry. The
move will create pressure for smaller companies with lower budgets, especially in the
post-genomic era where resource needs are extremely high.
Pfizer already has a substantial R+D portfolio with several drugs in the pipeline.
However, under pressure to continually release new products, there is a danger that
they will become less differentiated. A large R+D budget might stock the pipeline, but
this restructuring aims for more: exceptional performance through innovation.
12.18 Pfizer: no eternal patent life for virile Viagra
Nov 09, 2000
A UK court has invalidated one of Pfizer's patents on Viagra.
The ruling affects a broad patent on the use of PDE-5 inhibitors, which previously
blocked competition to Viagra from similar erectile dysfunction treatments. Although
the decision does not immediately affect Viagra's revenue potential, it may set a
precedent for increased restrictions on pharmaceutical companies' search for eternal
patent life.
A UK court yesterday reversed Pfizer's UK patent on the use of phosphodiesterase
(PDE)-5 inhibitors to treat erectile dysfunction (ED), to which Viagra belongs,
following a challenge by Eli Lilly and ICOS Corporation. According to the court, the
patent did not fulfil the criterion of novelty, as the effects of PDE-5 inhibitors on ED
had been published in medical literature before Pfizer filed its patent in 1993. In
addition to the revoked UK patent, Pfizer also holds an EU-wide patent on PDE-5
inhibitors, which Lilly ICOS is also currently challenging. Pfizer is considering an
appeal against the UK decision, which could expose Viagra to competition sooner
than Pfizer expected.
Lilly ICOS has a PDE-5 inhibitor, Cialis, in phase III trials for ED. Clinical results to
date indicate that Cialis is more selective than Viagra and could, therefore, offer an
improved side effect profile. In addition, Viagra is facing potential competition from
Bayer's vardenafil and TAP's Uprima, which are in late stage development.
Launched in 1998, Viagra posted sales of $788 million in its first year on the market,
and continued to grow by 31.1% to $1.03 billion in 1999. In the next five years, the
new ED products could shave off some of Viagra's sales, provided they can show
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therapy or cost advantages. However, Datamonitor still expects Viagra's sales to
reach around $2 billion in 2005, as the basic patent on sildenafil will still protect it from
generic competition until 2013.
Although the UK patent decision is unlikely to have any impact on Viagra's sales in
the near future, the decision could carry significant implications for the whole
pharmaceutical industry. To protect revenues, companies often submit patent claims
that are very broad, for example covering an entire class of drugs or a range of
production methods. If this option is increasingly restricted by court decisions,
companies will have to look for less obvious ways to extend patent protection for their
products.
12.19 Flu remedies: out in the cold
Nov 08, 2000
Cold remedies and appetite suppressants with PPA have been linked with an
increased risk of stroke.Although the risks are small, all products containing PPA will
be discontinued in the US. The FDA's decision, coupled with consumer worries
outside the US, will hit sales of well-known cold remedies hard. However, the long
term impact on the larger companies involved will be minimal. They can either
reformulate withdrawn brands or promote other products from their over-the-counter
portfolios.A study in the US has found a link between phenylpropanolamine (PPA),
commonly found in cold remedies and appetite suppressants, and an increased risk
of hemorrhagic stroke in young women.
Acting quickly, the FDA first issued a Public Health Advisory warning consumers of
the risks associated with PPA, encouraging them to discuss alternative products with
their health care providers. More seriously, the regulator also requested the
discontinuation of all products containing PPA, stating that although the risk
associated with these products is low, the conditions that they treat are not serious
enough to warrant the increased risk of a severe cardiovascular event.
SmithKline Beecham's Day Nurse and Contac 400, Pfizer's Benylin and Proctor and
Gamble's Vicks Coldcure will all be affected by the decision. Whilst these products
remain available in other markets, such as the UK, they are currently under review.
This is bad news for the manufacturers. According to Pfizer, Benylin is the number
one cough medicine in the UK, Canada and Australia. Its withdrawal in the US and
consumers' fears in other markets will hit sales hard.
The impact on the large pharmaceutical companies, however, is likely to be small
over the longer term. There are a number of options available that will reduce the
impact of this nasty surprise. Firstly, they can reformulate their products and eliminate
PPA, enabling them to maintain their brands. Alternatively, as the larger companies
have wide consumer health portfolios they may simply choose to promote other
products in place of the troubled brands.
12.20 Pfizer: still growing fast, despite Lipitor blip
Oct 27, 2000
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Pfizer's stock fell after Q3 results failed to meet expectations.
This doesn't mean Pfizer is in trouble. The problem was that sales of the anti-
cholesterol blockbuster, Lipitor, grew less than the company had expected, which was
mostly due to wholesalers stockpiling it last quarter. Pfizer will still achieve strong
long-term growth, driven by Lipitor as well as its generally strong portfolio.
Pfizer, the world's largest pharmaceutical company by ethical sales, announced this
week that Q3 net income (excluding merger related costs) had increased by 30%
compared to the same period in 1999, to $1.7 billion, helped by lower-than-expected
expenses and growing sales of Lipitor and the arthritis drug Celebrex.
However, Lipitor sales, which are vital to Pfizer's long-term growth, were up just 15%
in the US compared to Q3 1999. This compares with year-to-date growth of 31% in
the US and 35% worldwide. Pfizer blames the slow growth on stockpiling by
wholesalers in Q2; uptake among US physicians continues to grow strongly, as
prescriptions have increased by 27% compared to Q3 1999.
Although the Lipitor problem meant that Pfizer's overall sales did not meet
expectations, it still experienced strong growth in sales of Lipitor outside the US and
and in sales of Viagra. This, combined with merger-related cost savings expected to
total $400 million for the full year, has driven a 23% increase in net profit, to $1.36
billion.
Lipitor alone has the potential to continue to expand its sales to higher than $5 billion
as early as 2001, due to Pfizer's highly effective sales force combined with the drug's
potency compared to competing statins. Patents on other major drugs such as Viagra
and Neurontin will also remain in force for a long time, allowing the company to
develop the sales of these products as well. Pfizer has a strong product portfolio, and
the decline in share price should be only a short-term concern.
12.21 Statins: new data, same game for BMS
Oct 18, 2000
A new trial has confirmed the secondary prevention benefits of BMS' blockbuster
statin, Pravachol.
The Prospective Pravastatin Pooling (PPP) Project, involving almost 20,000 patients,
confirms Pravachol is effective in reducing the recurrence of cardiac events. But
although increased use of the drug in secondary prevention will help maintain sales,
Merck and Co.'s Zocor and Pfizer's Lipitor will continue to dominate the market.
BMS' Pravachol (pravastatin) continues to be a blockbuster, recording sales of $1.7
billion in 1999. However, it ranks only third in the statin market, behind Merck & Co.'s
Zocor (simvastatin) and Pfizer's Lipitor (atorvastatin), which achieved sales of $4.5
billion and $3.7 billion respectively. As Lipitor, the most potent statin in terms of lipid
lowering effect, gains market share, both BMS and Merck & Co. have increasingly
focused on the secondary prevention market.
Aside from aspirin, statins are the most widely prescribed treatment for the prevention
of recurrent events following an acute coronary event such as a heart attack or
unstable angina attack. However, whilst both Pravachol and Zocor have specific
indications for secondary prevention, Lipitor, which is currently in trials, has yet to
demonstrate a positive effect on mortality and non-fatal MI. Although Lipitor is
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generally considered the gold standard statin, it is also generally believed that the
drug should not be prescribed for secondary prevention until it gains specific
indications and has mortality data to support its use.
So for the time being, Pravachol and Zocor are fighting to dominate the secondary
prevention market. BMS has an advantage in that Pravachol has the widest indication
and is supported by the greatest amount of clinical trial data, as confirmed by the data
from the PPP Project.
However, Zocor continues to benefit from Merck's marketing strength and will
continue to be widely prescribed for both secondary prevention and dyslipidemia (the
statins' primary indication). Furthermore, even without a secondary prevention
indication, Lipitor continues to take market share from both Pravachol and Zocor.
Since it is likely that Lipitor will ultimately prove beneficial in secondary prevention
and that physicians will prescribe the drug with which they are most familiar, the new
data for Pravachol is enough to help BMS compete, but not enough for it to dominate
the statin market.
12.22 Pfizer: more pressure on inhaled insulins
Oct 16, 2000
Pfizer has halted the development of its diabetic neuropathy drug, Zenarestat.
Along with the failure of Prinomastat in August, this makes a mockery of Pfizer's $4.7
billion R + D budget. Fortunately Zenarestat wasn't a potential blockbuster, but it
could have peaked at $80 million annually in a growing niche market. Pfizer will have
to look to its inhaled insulin to regain respect in the diabetes management market.
The decision to stop further development of Zenarestat follows the results of two large
safety trials during which some patients on higher doses of the drug developed kidney
problems.
The diabetic neuropathy patient population is estimated to be 3.3 million in the US
alone and there is currently no effective pharmacological treatment for managing this
debilitating condition. Although Zenarestat was no blockbuster - Datamonitor
forecasts it would have generated peak sales of $80 million by 2004 - it would have
provided a welcome revenue stream and gained Pfizer a significant first-to-market
advantage. Now this target niche population is open to attack from competitors,
although developing treatments for diabetic neuropathy has proven notoriously
difficult.
Pfizer is a leading player in diabetes care and management, and this failure will be
felt particularly by its diabetes franchise. However, the company's inhaled insulin,
currently in phase III trials and due for release in 2002, is set to have a major impact
on the diabetes market. Pfizer will have to rely on this novel product to reassert its
strength in diabetes treatments. It will just have to hope that this product proves
successful and it gets in first.
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12.23 UCB: winning European market with novel anti-epileptic?
Oct 05, 2000
Keppra has been approved by the EMEA. Belgium's UCB has been given the green
light to rollout its new flagship anti-epileptic. The company is hoping its reduced
interaction with other drugs will allow it to grab much of Neurontin and Lamictal's
market share. If marketed well, UCB could be proved right.UCB's new anti-epileptic
drug Keppra was approved by the EMEA (European Medicines Evaluation Agency)
on 2 October. It was launched in the US in at the end of April 2000, where it has had
a positive response from the medical profession. UCB is looking to roll the product out
in Europe from November 2000. It is expected to launch first in the UK, Germany and
Scandinavia.
Keppra will face stiff competition. Pfizer's Neurontin (gabapentin) was the top selling
anti-epileptic in 1999, with sales of $913 million. The main reason for this success is
that its side effects to efficacy ratio is better than those of its competitors. The other
major drug is Glaxo Wellcome's Lamictal, which is more efficacious than Neurontin
but has considerably worse side effects. This has lead many physicians to prescribe
the Pfizer compound instead.
Keppra has one key difference from most other epilepsy medicines in terms of its
pharmacokinetics: it is not metabolized through the liver. This principally means that it
is less likely to cause dangerous interactions with other medications, making it more
suitable for use in patients who are on several types of medication. Clinical studies
have shown that Keppra is generally well tolerated when used in combination
therapy. Since this is common practice in the treatment of epilepsy, this gives the
drug a key competitive advantage.
However, a large-scale marketing campaign may also be necessary. Pfizer's massive
investment in public awareness of its product, which has seen the company take
steps such as promoting Neurontin directly to the consumer with full-page
advertisements in major newspapers, is another key factor in the drug's current
domination of the epilepsy drug market. If UCB can achieve this level of awareness
amongst sufferers and their physicians, Keppra has the efficacy to side effect ratio to
become an important player in the anti-epileptic market.
12.24 Pfizer strikes in the battle for the US Alzheimer's market
Sep 28, 2000
A head-to-head study has shown Aricept's superior side effect rating.
The results of the first trial of its kind between Aricept and Exelon are good news for
Pfizer, which wants to lead this profitable market. However, despite these findings,
the central issue of efficacy remains unclear, leaving Novartis with important
ammunition for a riposte.
Pfizer yesterday released details of a company-funded study, comparing its AChE
inhibitor Aricept (donepezil hydrochloride) and its main rival in the market, Novartis'
Exelon (rivastigmine tartrate). With Exelon's approval by the FDA in April 2000, and
subsequent release onto the US market in June, Pfizer is obviously looking to
consolidate its position as leader in this highly lucrative market by striking the first
blow at the competition. The study's main findings relate to the tolerability of the two
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products, a field in which Pfizer's drug was found to be almost twice as good in most
areas in the open-label study.
Tolerance is an important factor in the success of any drug, because, amongst other
things, it has a direct effect on the level of patient compliance. However, the fact
remains that the efficacy of a drug over its competitors will be the main driver in the
Alzheimer's disease market. Pfizer's head-to-head study does not offer any new
evidence on this front. The fact that the study fails to address this aspect, can be
interpreted as an admission that there is maybe little between the two drugs on this
level. Novartis can be expected to play on this, and a study of its own focusing on the
issue of efficacy is the obvious choice of ammunition with which to hit back.
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CHAPTER 13 LATEST COMPANY NEWS
13.1 Zoloft wins FDA approval for treatment of posttraumatic
stress disorder
Aug 16, 2001
Pfizer Inc has received FDA approval for long-term use of Zoloft in the treatment of
posttraumatic stress disorder.
13.2 Pfizer sets out to improve cholesterol awareness
Aug 16, 2001
Pfizer Inc has announced that it is expanding its consumer education campaigns to
include new information about the need for early diagnosis and proper treatment of
high cholesterol.
13.3 Altana in marketing talks for asthma treatment
Aug 16, 2001
Altana is in negotiations for the licensing of a potential replacement for the traditional
asthma inhalers. According to the FT, Pfizer, Bristol-Myers Squibb and Novartis are
fighting over the marketing rights of the German company's drug.
13.4 Pfizer allergy medicine Zyrtec-D receives FDA approval
Aug 15, 2001
Pfizer Inc has announced that the FDA has approved Zyrtec-D 12 Hour (cetirizine
HCl/pseudoephedrine HCl), an antihistamine with decongestant for the treatment of a
broad range of allergies and nasal congestion.
13.5 Barr challenging patents protecting Estrostep Fe
Aug 10, 2001
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Barr Laboratories Inc. has announced that Pfizer Inc., which initiates Barr's challenge
of the patents protecting Pfizer's Estrostep Fe oral contraceptive from generic
competition, has sued it. Estrostep Fe is indicated for the prevention of pregnancy in
women who elect to use oral contraceptives as a method of contraception. The
product has annual sales of approximately $57 million.
13.6 Onyx amends Onyx-015 development agreement with
Warner-Lambert
Aug 08, 2001
Onyx Pharmaceuticals Inc. has amended its collaboration agreement with Warner-
Lambert, a subsidiary of Pfizer Inc. for the development of Onyx-015 (CI-1042). Onyx
will regain full rights to develop and commercialize Onyx-015 for cancers that are
treated via direct injections to the tumors and other local and regional routes of
administration.
13.7 Pfizer's European method of use patent for ED declared
invalid
Jul 19, 2001
Lilly ICOS LLC has announced that the Opposition Division of the European Patent
Office has declared invalid Pfizer's "method of use" patent EP702555 for PDE
inhibitors, including sildenafil. The ruling was made following a three-day hearing by
the Opposition Division.
13.8 Cholesterol lowering drug for treatment of Alzheimer's
enters trials
Jul 11, 2001
The Institute for the Study of Aging is funding the first clinical trial to evaluate the use
of a cholesterol lowering statin to treat Alzheimer's disease. The study, lead by Dr D.
Larry Sparks, senior scientist at the Sun Health Research Institute, Sun City, Arizona,
will examine the effects of the statin drug Atorvastatin (Lipitor) in the treatment of
patients with mild Alzheimer's disease.
13.9 Agouron ends Remune collaboration
Jul 06, 2001
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The Immune Response Corp. has received notification of the termination by Agouron
Pharmaceuticals Inc. (a Pfizer company) of the continued development and
commercialization of Remune (HIV-1 Immunogen), an investigational immune-based
therapy for the treatment of individuals infected with HIV.
13.10 Pfizer employs VSM MedTech's monitor in trials
Jul 05, 2001
Pfizer Canada Inc. has selected VSM MedTech Ltd.'s BPM-100 automated blood
pressure (BP) monitor for use in two upcoming clinical trials. The BPM-100 will be
distributed to over three hundred primary care physicians across Canada who are
participating in the studies.
13.11 Phytopharm cactus obesity drug proved safe
Jul 05, 2001
Phytopharm Plc has succeeded in extracting an experimental obesity drug from an
African cactus. The drug has been proved safe in early clinical tests on overweight
people.
13.12 Metabolex and Pfizer amend genomics research partnership
in diabetes
Jul 02, 2001
Metabolex has realigned its research partnerships with Pfizer Inc. In the future, Pfizer
and Metabolex will focus their joint research efforts on the discovery of drug targets
related to insulin secretion, a program that was originally partnered with Warner-
Lambert (since merged with Pfizer) in December 1998.
13.13 VistaGen win NIH cancer research grant
Jun 28, 2001
VistaGen Inc. has announced that the US National Institutes of Health (NIH) has
awarded the company a $219,000 Phase I Small Business Innovation Research
(SBIR) grant entitled "In Vitro Stem Cell Assay for Anti-Cancer Drug Toxicology
Assessment."
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13.14 New study in Uganda to determine best preventive HIV
methods
Jun 26, 2001
The Pfizer is to fund a study in Uganda to determine which preventive measures have
been most effective in curbing HIV infection. The study will be conducted over 18
months and be done in collaboration with UNAIDS, UNICEF and the Uganda AIDS
Commission.
13.15 New data for inhaled insulin
Jun 26, 2001
Inhale Therapeutic Systems Inc. has presented new data from Phase III studies being
conducted by Pfizer Inc. and Aventis Pharma of Exubera inhaled insulin.
13.16 Pfizer's migraine treatment Relpax wins European Union
approval
Jun 15, 2001
Pfizer Inc's Relpax, an anti-migraine medicine for the acute treatment of migraine in
adults, has completed the European Mutual Recognition Process. In addition to
mutual recognition by EU member countries, non-EU members such as Norway have
agreed as well to recognize the earlier approval of Relpax by the Reference Member
State, the UK.
13.17 GenVec receives patent for the improved formulation of
adenovectors
Jun 08, 2001
GenVec Inc. has announced the issuance of a US patent covering formulation
methods for preserving adenovectors. Adenovectors are gene transfer systems that
can be used to deliver genes into cells in order to direct the production of therapeutic
proteins at the site of disease.
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13.18 Pfizer will offer Diflucan antifungal for no charge to HIV/AIDS
patients in least developed countries
Jun 07, 2001
Pfizer Inc has said that it will offer Diflucan antifungal medicine at no charge to
HIV/AIDS patients in 50 least-developed countries as identified by the United Nations
where HIV/AIDS is most prevalent.
13.19 FDA say Pfizer's Cardura is a safe and effective blood
pressure treatment
May 25, 2001
Pfizer Inc has said that it is pleased that an FDA advisory panel affirmed that its
alpha-blocker Cardura is safe and effective as currently labeled for its indications of
high blood pressure and benign prostatic hyperplasia. Pfizer said it will continue to
work closely with the FDA and other regulatory agencies around the world as
additional data from the ALLHAT trial becomes available to determine whether label
additions are warranted.
13.20 Pharmacia and Pfizer dispute NY Times article
May 23, 2001
In response to N.Y. Times article Pharmacia Corp. and Pfizer Inc have issued the
following statement:
13.21 Norvasc's proves value in treating high blood pressure in
diabetics
May 22, 2001
Pfizer Inc has released results from a major new study further demonstrating the
value of its calcium channel blocker Norvasc in treating high blood pressure in
patients with diabetes and severe renal disease.
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13.22 National Cholesterol Education Program guidelines
emphasis need for LDL-Cholesterol lowering in high risk
patients
May 16, 2001
The National Cholesterol Education Program (NCEP) has issued new guidelines, and
physicians are familiarizing themselves with a new cholesterol-management
message: Patients at high risk for coronary heart disease must be treated more
aggressively. The guidelines specify that one treatment option, combination therapy,
is a safe and effective way of lowering LDL-cholesterol and reaching goal.
13.23 New anticancer mouthwash proves efficacy
May 16, 2001
Onyx Pharmaceuticals Inc. has announced that Phase II clinical trial results of its lead
product CI-1042 (ONYX-015) for premalignant oral dysplasia that is administered to
patients as a mouthwash. The study was presented today at the 37th Annual Meeting
of the American Society of Clinical Oncology (ASCO) in San Francisco, California.
13.24 Positive data released for Onyx's CI-1042
May 15, 2001
Onyx Pharmaceuticals Inc. has announced promising results of a Phase I/II clinical
trial with its lead product CI-1042 administered via hepatic artery infusion for the
treatment of colorectal cancer liver metastases. The study was presented at the 37th
Annual Meeting of the American Society of Clinical Oncology in San Francisco,
California.
13.25 Celebrex and Vioxx have different blood pressure and
edema effects
May 14, 2001
Findings from a six-week, replicate study of COX-2 specific inhibitors in treated,
hypertensive osteoarthritis patients over 65 years of age have confirmed that more
patients taking Vioxx experienced statistically significant and clinically important
increases in systolic blood pressure and edema versus patients taking Celebrex. The
findings were presented at the annual meeting of the American Geriatric Society
meeting.
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13.26 Paper encourages primary-care physicians and families to
learn the early signs of Alzheimer's disease
May 10, 2001
A new issues paper funded by Eisai Inc. and Pfizer Inc., entitled "Overcoming
Barriers to Diagnosis and Treatment of Alzheimer's Disease," noted an average delay
of three and a half to five and a half years between the onset of symptoms and
diagnosis. The delay is partly due to unrecognized early warning signs and
misdiagnoses, reported in the paper.
13.27 Geodon schizophrenia drug significantly better tolerated
than other treatments
May 10, 2001
Pfizer Inc's novel schizophrenia treatment Geodon was shown to be significantly
better tolerated in terms of weight gain, cholesterol, triglycerides and insulin levels
than another leading antipsychotic, according to data presented from the first head-to-
head comparison of the two medicines.
13.28 Ibis receives milestone payment
May 09, 2001
Isis Pharmaceuticals Inc. has announced that Agouron Pharmaceuticals Inc. a Pfizer
company has agreed to pay its Ibis Therapeutics division a $2.5 million research
milestone.
13.29 Maxygen reach milestone in Pfizer collaboration
May 04, 2001
Maxygen has achieved a milestone in its agreement with Pfizer for biochemical
manufacturing of a Pfizer pharmaceutical product. Maxygen reported that it will
receive a milestone payment for developing an improved second generation
manufacturing process for the Pfizer product. This is Maxygen's second major
process improvement for Pfizer, developed through its MolecularBreeding directed
molecular evolution technologies.
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13.30 Pfizer signs up Dendrite for eTrials support
Apr 24, 2001
Dendrite International Inc., which provides sales productivity solutions, analytics, data
and sales support services for the worldwide pharmaceutical industry has signed a
major agreement with Pfizer Inc. to provide global eTrials support.
13.31 St. John's wort ineffective for major depression
Apr 18, 2001
St. John's wort, has been found to be ineffective for patients diagnosed with major
depression in a controlled trial. The 14-month study of 200 depressed patients, nearly
half of whom were randomly assigned to take St. John's wort extract and the other
half an inert placebo, showed no "significant" differences between the two groups
after treatment based on ratings scales widely used to measure depression and
anxiety.
13.32 Pharmacia and Pfizer receive approvable letter for revised
labeling for Celebrex
Apr 17, 2001
Pharmacia and Pfizer have received an approvable letter from the FDA for revised
labeling for Celebrex, the only COX-2 specific inhibitor approved for both
osteoarthritis and adult rheumatoid arthritis. The approvable letter is in response to
the supplemental new drug application seeking changes to the prescribing
information to include results of the Celecoxib Long-term Arthritis Safety Study.
13.33 Boehringer Ingelheim and Pfizer to market Spiriva
Apr 12, 2001
Boehringer Ingelheim and Pfizer Inc. have entered into a long-term worldwide
agreement to jointly market Spiriva, a novel once-a-day inhaled treatment for Chronic
Obstructive Pulmonary Disease (COPD).
13.34 Lipitor trial reveals significant stroke reduction for some
heart patients
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Apr 04, 2001
Pfizer Inc. has reported that newly published results of a clinical study showed that
patients treated with Lipitor upon hospital admission for an acute coronary syndrome
were significantly less likely to experience a non-fatal stroke within the following four
months. These new findings from the MIRACL (Myocardial Ischemia Reduction with
Aggressive Cholesterol Lowering) study were published in the April 4 issue of the
Journal of the American Medical Association.
13.35 Pharmacia submits new NDA for valdecoxib
Mar 26, 2001
Pharmacia Corp. has filed the admission to the FDA for valdecoxib for the treatment
of acute pain, dysmenorrhea, osteoarthritis and rheumatoid arthritis.
13.36 Pfizer claims no link between Viagra use and heart disease
Mar 21, 2001
Pfizer Inc. has issued a public statement confirming that men with erectile dysfunction
(ED) currently using Viagra are not susceptible to increased risk of heart attack or
death from ischemic heart disease. This announcement comes after Phase I results
of a large-scale, observational study of Viagra were presented at the annual meeting
of the American College of Cardiology (ACC).
13.37 Aricept may reduce caregiver burden
Feb 27, 2001
Caregivers of patients treated with Aricept reported less time spent assisting patients
with mild to moderate Alzheimer's disease, compared to caregivers of placebo treated
patients. These data from a one-year, placebo controlled study were presented today
at the American Association for Geriatric Psychiatry's (AAGP) 14th annual meeting.
13.38 South African regulator approves distribution of diflucan
tablet
Feb 21, 2001
The South African Medicines Control Council (MCC) has granted approval for
distribution of a tablet form of Pfizer's antifungal medicine Diflucan for the treatment of
oesophageal candidiasis. Diflucan is already an approved treatment for cryptococcal
meningitis in South Africa.
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13.39 Pfizer adds support to collaboration of Academic Medicine
and Pharmacy Education
Feb 19, 2001
In late 2000, the Association of American Medical Colleges (AAMC) and the
American Association of Colleges of Pharmacy (AACP) announced a collaborative
agreement between the medical and pharmacy education communities to form a not-
for-profit, charitable corporation entitled PharmMed Educational Services Inc. to
pursue activities of mutual interest to medical schools and pharmacy schools. Pfizer
is to give $100,000 in support of this project.
13.40 New report reveals high rate of disease among American
workers
Feb 13, 2001
Heart disease is the strongest risk factor for reduced work productivity, according to a
to a new report, The Health Status of the US Workforce, the first ever evaluation of
worker health on a national level.
13.41 Blackstone to support genomics-based drug discovery at
Pfizer
Feb 13, 2001
Blackstone Technology Group has built an introductory distributed supercomputing
solution for Pfizer Inc. The compute farm, which became operational this month, will
accelerate and support expanding genomics-based research at Pfizer's Discovery
Technology Center.
13.42 Pfizer restricts Pregabalin use in some clinical trial patients
Feb 13, 2001
Pfizer Inc. has announced to the press that the company has restricted the use of
pregabalin for certain patients in clinical trials following discussions with the FDA.
PFIZER INC: LATEST COMPANY NEWS
SIC 2834 Pharmaceutical Preparations
SIC 2836 Biological Products, Except Diagnostic Substances
NAICS codes: 325412, 325414
Pfizer Inc Reference Code: 1316
Publication Date: 20/08/2001 Page 60
13.43 FDA advisory committee reveals GI safety data for both
COX-2 Inhibitors, Vioxx and Celebrex
Feb 09, 2001
Pharmacia and Pfizer Inc. announced to the press that the Arthritis Advisory
Committee has provided guidance to FDA that the labels for both Vioxx (rofecoxib)
and Celebrex (celecoxib capsules) should reflect data showing gastrointestinal safety
advantages versus the specific comparator NSAIDs studied.
13.44 Pfizer Zeldox label warns about heart effects
Feb 06, 2001
Pfizer Inc.'s schizophrenia drug Zeldox will come with cautions about possible heart-
related side effects.
13.45 FDA approves Pfizer schizophrenia medicine Ziprasidone
Feb 06, 2001
A new antipsychotic dug hopes to expand options for treatment of the most chronic
and disabling mental illness. Discovered and developed by Pfizer, ziprasidone is a
serotonin and dopamine antagonist that is effective across its dose range in treating
the positive and negative symptoms associated with schizophrenia.
13.46 Strategic INFO enters into licensing agreement with Pfizer
Jan 29, 2001
Strategic INFO have announced to the press an agreement to provide Web based
knowledge management tools to leading research based pharmaceutical company.
13.47 Xenogen enters research agreement with Pfizer
Jan 25, 2001
Xenogen Corporation has entered into a research collaboration with Pfizer Inc. to
develop new methods of identifying potential therapeutic drug targets with the use of
transgenic mice.
PFIZER INC: LATEST COMPANY NEWS
SIC 2834 Pharmaceutical Preparations
SIC 2836 Biological Products, Except Diagnostic Substances
NAICS codes: 325412, 325414
Pfizer Inc Reference Code: 1316
Publication Date: 20/08/2001 Page 61
13.48 Interneuron initiates Phase II trial of Pagoclone
Jan 17, 2001
Interneuron Pharmaceuticals Inc. initiated of Phase II clinical testing of pagoclone for
generalized anxiety disorder (GAD)by Pfizer Inc. This study, designed to establish
that pagoclone is safe and efficacious for use in GAD and to support regulatory
approval of the product, follows Pfizer's initiation of other clinical and non-clinical
studies of pagoclone, including a Phase III trial in panic disorder initiated in August
2000.
13.49 Rigel and Pfizer amend deadline on renewal of
collaborationan
Jan 16, 2001
Rigel Pharmaceuticals Inc. and Pfizer have announced to the press an agreement to
amend the deadline until January 25, 2001, for Pfizer to elect whether to continue
their asthma/allergy research collaboration with Rigel for an additional year.
13.50 BioTrove to collaborate with Pfizer
Jan 15, 2001
BioTrove Inc. has entered into a collaborative research agreement with Pfizer Inc. for
the development of BioTrove's ultra-high throughput screening technology for use in
Pfizer's research facilities.

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