Pfizer cuts 15 R&D projects, buys King
Pfizer has cut its R&D pipeline again, removing 15 experimental projects in a bid to restructure its operations and conserve earnings, according to PharmaTimes.
Projects being eliminated span early- to late-stage trials, including Lyrica (pregabalin) for generalized anxiety disorder. Three phase III projects were cut: apixaban for acute coronary syndrome, Thelin (sitaxentan) for pulmonary arterial hypertension and Lyrica (pregabalin) for post-operative pain. These cuts follow an earlier cut of its R&D pipeline last year, when Pfizer said no less than 31 projects had to end to help it leverage its best assets and maximize efficiency.
Pfizer also announced the completion of its $3.6 billion purchase of King Pharmaceuticals. The deal provides access to King’s Meridian auto-injector business for emergency drug delivery, which develops and manufactures the EpiPen, as well as its Alpharma animal health business.