November 28, 2006
Pfizer hoping to win over analysts at upcoming R&D day
Pfizer is slated to deliver a detailed pipeline update Thursday, as it tries to boost investor confidence in its roster of experimental compounds. The six-hour meeting will be Web cast live and is set to be hosted by new chief executive Jeffrey Kindler. He’ll have an audience of analysts ready to hear his plan for replacing erstwhile top earners such as antibiotic Zithromax and antidepressant Zoloft. Cholesterol drug Lipitor, with $12 billion in annual sales, is set to lose patent protection in 2010. Pfizer is expected to present the latest data on Lipitor’s possible successor, torcetrapib, which in large-scale clinical testing has been shown to boost good cholesterol but raise blood pressure. Earlier this month, the American Heart Association prevented Pfizer from presenting data on the closely watched developmental drug at its annual meeting after AHA officials said Pfizer broke the organization’s rules of discussing results ahead of their presentation. Pfizer said today it ended a research collaboration with Akzo's Organon unit to develop asenapine, a treatment for schizophrenia and bipolar disorder which analysts had predicted could become a blockbuster. Late-stage compounds for treating cancer and HIV are among others for which the company may provide updates.