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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene
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To: Miljenko Zuanic who wrote (171)8/27/2002 11:31:37 PM
From: RCMac  Read Replies (1) of 447
 
PFE didn't have its own oncology program (other than collaboration with OSIP). So, if antitrust dictate return of the Tarceva to ISIP because of the competitive reason why not complete oncology program (which PFE did cancel few months later, after VEGF failure)?

Miljenko,

My recollections are that

(1) PFE was required to choose which of the two drug candidates to divest -- divestiture of either would have satisfied the FTC, and OSIP got lucky PFE could instead have agreed to sell the internally-developed WLA candidate within an agreed period of time; standard antitrust practice. And

(2) divestiture only of one of the two, not the whole cancer program, was required because the two drugs, with essentially the same mechanisms of action, would "compete" directly against each other and there would have been a concern that if PFE controlled both, it could have kept prices higher than if the two were owned by different companies, or could have backpedalled or stopped development of one so as to avoid competition.

I don't know if this reasoning makes medical sense. I'm just saying that this is a legally consistent way that antitrust lawyers at the FTC would have seen it, and how I remember understanding the issues from the press releases and news articles at the time. (I paid attention because one of WLA's major research facilities is here in Ann Arbor, and I had a small position in OSIP.<g>)

--RCM
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