Pfizer Working on New Cancer, Osteoporosis Drugs (Update1)
Bloomberg News
November 6, 1998, 11:32 a.m. ET
Pfizer Working on New Cancer, Osteoporosis Drugs (Update1)
(Adds company comments on Viagra in fifth paragraph. Updates
share activity.)
New York, Nov. 6 (Bloomberg) -- Pfizer Inc., the No. 4 U.S.
drugmaker, said it is working on new cancer drugs, including ones
that may work to interfere with the development of blood vessels
that tumors need in order to grow.
New York-based Pfizer also is working on other experimental
cancer drugs and ones for obesity. And a drug for older women
seems to counteract some of the side effects linked to estrogen
loss, such as thinning of bones and increased risk of heart
disease. Pfizer said it intends to conduct ''head-to-head''
comparisons of its osteoporosis drug with competing products.
Eli Lilly & Co. already sells a similar drug, Evista, and
has been working on an impotence drug to compete with Pfizer's
pill Viagra. Pfizer also is working on new forms of its impotence
treatment.
''If a better Viagra can be built, then we intend to be the
ones that build it,'' said John Niblack, head of Pfizer's drug
research and development, said at a meeting for analysts this
morning.
Pfizer executives also said that there were ''rare''
observations of priapism -- persistent erection, which can be
painful -- in men who took Viagra. They said the company would
seek to add such information to the labeling for the drug.
Pfizer rose 1/2 to 107 7/8 in late morning trading.
At the analysts meeting, Pfizer also discussed its research
into diabetes and heart disease. Among its projects is a study of
how its antibiotic Zithromax might work to prevent heart disease
in people who already have had heart attacks.
Previous studies in animals had suggested a link between
hardening of the arteries, also known as atherosclerosis, and
bacterial infection. The drug may work against the bacteria
chlamydia pneumonaie.
These projects, which are more experimental, could follow
the more advanced drugs Pfizer already has tested in large-scale
studies.
Drugs Targeted for 1999
Pfizer could introduce three new drugs in 1999, including a
migraine medicine. Its other two possible 1999 drug introductions
are Tikosyn, for an irregular heart rhythm known as atrial
fibrillation, and a potential blockbuster arthritis medicine,
Celebrex. Pfizer will market this drug through an agreement with
Monsanto Co., which developed the drug.
Celebrex treats pain and swelling without irritating the
lining of the stomach, as do existing painkillers such as
American Home Products Corp.'s Advil.
Sales of Celebrex could reach $500 million in its first year
on the market, according to some estimates. Tikosyn could have
1999 sales of $75 million, according to ABN Amro, and eletriptan
sales could be $30 million.
Pfizer said it intends to become the premier drug research
company early in the next century, attempting to win a title
often given to Merck & Co., the world's biggest drugmaker.
''The company's goal is to become the premier research-based
pharmaceutical company early in the next decade,'' David
Shedlarz, Pfizer's chief financial officer, said at today's
meeting.
--Kerry Dooley in the Princeton newsroom (609) 279-4016/shw/rjb
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