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POPSMerck Cancels Obesity Drug Probably the right move. Why throw good money after bad. I will be interesting to see what Pfizer decides for its similar compound.
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POPSWill Pfizer Buy Bayer? A Pfizer-Bayer deal is the unsubstantiated market rumor of the day. There are reasons to doubt the rumors. Pfizer's previous mega-deals haven't exactly paid off. And buying a European drug firm isn't exactly appealing given the current state of the dollar. But one stumbling block listed by Reuters, that Bayer is a healthcare-chemicals conglomerate, not just a drug company, doesn't seem that big a deal for me. In fact, Pfizer might be excited to get Bayer's diagnostics business. Being a mix of medical devices, diagnostics, and drugs has worked pretty well for Abbott Laboratories and Johnson & Johnson, after all.
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POPSPfizer and Medivation Enter Deal On Alzheimer's Pfizer will partner with the small biotech firm on dimebon, an experimental drug for Alzheimer's and Huntington's disease. But there is debate among investors over whether early, promising results from studies in Russia will translate into effectiveness in larger clinical trials. Pfizer will pay $225 up front and $500 million in bio-bucks. It will pay for 60% of development costs and get 60% of profits.
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POPSCigna Takes Step Back On Vytorin This is a first step, reported by the WSJ's Health Blog. It could bode badly for Vytorin's insurance placement, which has been one of the things that has made usage of the drug so widespread.
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POPSPfizer Yanks Lipitor Ads Congressmen Dingell and Stupak, who have been criticizing the ads that featured medical device pioneer Robert Jarvik, have already issued a statement to reporters saying they are "pleased" by the decision.
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POPSGood Numbers At Pfizer Ignoring the one-time gain last year, Pfizer had a pretty good quarter, beating forecasts and adjusting guidance up slightly. Sales increased 60% for Lyrica, for certain types of pain, and quadrupled for Chantix, a stop-smoking drug.
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POPSPfizer Anti-Smoking Drug Gets Warning File this under "drugs have risks." Pfizer's anti-smoking drug Chantix has been one of the company's biggest recent successes. Today, it's getting a warning that patients should watch for agitation, dpressed mood, or suicidal thoughts. This change upgrades a "precaution" that was previously put in the label to a "warning." Pfizer chief medical officer Joe Feczko said in a statement that Chantix is "a real breakthrough" and that he hopes the change helps doctors have a "dialogue" with patients.
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POPS39,870 That's the total number of jobs cut by pharmaceutical companies this year, according to Ed Silverman of Pharmalot. If Ed's count is right, that's a stunning total. At the beginning of 2006, Challenger, Gray & Christmas estimated pharma job cuts had hit 70,000 over three years. And that was more job cuts than in the previous decade.
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POPSMore Pain For New Heart Drugs U.S. investors may not have been watching it closely, but TAK-475, a squaline synthase inhibitor, was viewed as one of the only promising new mechanisms in treating bad cholesterol levels left. It had been suggested that Pfizer or another big drugmaker might want to license the drug. This delay is yet another sign of how difficult inventing new blockbusters is getting.
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POPSPfizer Ends Exubera Sales Exubera, the first inhaled insulin, looks to go down in history as one of the drug industry's biggest flops. More than a decade, and billions of dollars spent, and the product just won't sell.
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POPSPfizer Feels The Pain Everyone's pretty much saying the same thing -- a few fans do think Pfizer's undervalued. But, ouch. What can Jeff Kindler do to get investors excited about this stock?
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POPSBiogen Idec For Sale What's interesting here is that Biogen Idec's stock has been on a tear, and the company is predict blowout sales for its other MS drug, Tysabri. So why sell? Just because someone like Pfizer might be forced to pay a large premium?