Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: BigKNY3 who wrote (523)	2/18/1998 9:13:00 AM
From: BigKNY3	Read Replies (1) \| Respond to of 9523

Big news today! BigKNY3 Searle and Pfizer Announce Agreement to Co-Promote Innovative Anti-Arthritis Agents CHICAGO, Feb. 18 /PRNewswire/ -- G.D. Searle & Co., the pharmaceutical business of Monsanto Company (NYSE: MTC) and Pfizer Inc. (NYSE: PFE) today announced that they have entered into definitive United States agreements covering the co-promotion and development of Searle's celecoxib and its second generation compound. Both agents are novel Cox-2 (Cyclooxygenase-2) inhibitors under development for the treatment of arthritis and pain. Additionally, Searle and Pfizer are finalizing an agreement which is expected to be signed within weeks to expand the collaboration to other world areas. Searle previously entered into an agreement for the development and marketing of its Cox-2 inhibitors in Japan with Yamanouchi Pharmaceutical Co. Ltd. Searle plans to market celecoxib worldwide under the trademark Celebra(TM). This collaboration is expected to accelerate the global launch of celecoxib through the combined capabilities of Searle and Pfizer. Celecoxib is currently in Phase III clinical trials -- the final step before a drug is submitted for regulatory review for the treatment of osteoarthritis, rheumatoid arthritis and pain. The second generation compound is in Phase II trials. Searle plans to submit new drug applications for celecoxib later this year to the Food and Drug Administration and with international regulatory agencies. "We are very pleased to have agreed upon this landmark collaboration," said Richard U. De Schutter, chairman, president and chief executive officer of Searle, and vice-chairman, Monsanto. "Pfizer is a world-class pharmaceutical company, and will increase the value of our Cox-2 inhibition technology. Pfizer's capabilities in global product registration and experience in marketing new agents are unrivaled." "We are excited about this agreement and looking forward to working with Searle on celecoxib," said Henry A. McKinnell, Ph.D., executive vice president of Pfizer and president of the Pfizer Pharmaceutical Group. "Celecoxib promises to bring relief to millions who suffer from arthritis and represents a major medical and commercial opportunity for both Searle and Pfizer." Although the terms of the agreement are confidential, Searle acknowledged that it will receive $85 million as an upfront payment. Non-steroidal anti-inflammatory drugs (NSAIDs) such as aspirin and ibuprofen, have been used for decades to treat chronic inflammatory conditions, including rheumatoid and osteoarthritis, and certain types of pain. However, all currently available NSAIDs can cause adverse effects, particularly in the gastrointestinal tract, which can limit their usefulness. NSAIDs inhibit cyclooxygenase (Cox), an enzyme that produces prostaglandins -- body chemicals that initiate both beneficial and harmful processes in the body. Scientists at St. Louis-based Washington University and Searle, led by Dr. Philip Needleman, discovered a novel form of the enzyme, Cox-2, that specifically produces the prostaglandins responsible for pain and swelling. The other enzyme, Cox-1, produces the protective prostaglandins important to gastrointestinal, renal and platelet functions. Currently available NSAIDs inhibit both versions of Cox, explaining both their anti-inflammatory activity and their adverse effects. The discovery of Cox-2 led to the research for a specific inhibitor of this inflammatory enzyme. Searle's celecoxib is intended to inhibit this enzyme. Cox-2 has been implicated in other disease processes and Searle scientists are exploring additional potential applications for celecoxib, such as the prevention of colon cancer. It is estimated that there are approximately 40 million people who suffer from arthritis. This number is expected to increase as the population ages. By the year 2000, the 65-and-older group is projected to account for 13 percent of the total population in North America. The U.S. Centers for Disease Control and Prevention projects the number of individuals afflicted with arthritis will increase to nearly 60 million Americans by the year 2020. At present, total U.S. sales of anti-arthritic agents is currently $1.8 billion. Worldwide, the sales of such drugs are estimated to be $5.8 billion. Searle, the pharmaceutical division of the Monsanto Company, researches and develops pharmaceutical products and other healthcare solutions worldwide. Searle focuses its expertise on five key therapeutic areas: arthritis; cardiovascular disease; oncology; women's health; and sleep disorders. As a life sciences company, Monsanto is committed to finding solutions to the growing global needs for food and health by sharing common forms of science and technology among agriculture, nutrition and health. The company's 20,000 employees worldwide make and market high-value agricultural products, pharmaceuticals and food ingredients. Pfizer Inc. is a research-based health-care company with global operations. In 1997, the company reported sales of more than $12 billion and invested $1.9 billion in research and development. SOURCE Monsanto Company CO: Monsanto Company; G.D. Searle & Co.; Pfizer Inc. ST: Illinois