Pfizer and Nektar resolve Exubera contract

Share this article:
Pfizer and Nektar resolve Exubera contract
Pfizer and Nektar resolve Exubera contract

Pfizer and Nektar Therapeutics released a joint statement today announcing they have resolved all outstanding contractual issues related to Exubera and Nektar's Phase I next generation inhaled insulin (NGI) product.

Under terms of the agreement, Nektar will receive a one-time payment of $135 million from Pfizer.

In addition, in the event that a new partner is selected, Pfizer has agreed to transfer its remaining rights and all economic benefits for Exubera and NGI. The transfer would include Exubera's New Drug Application and Investigational New Drug Applications and all ex-US regulatory filings and applications, continuation of ongoing Exubera clinical trials and certain supply chain transition activities.

Pfizer CEO Jeffrey Kindler and Nektar CEO Howard Robin issued the following joint statement: “The agreement strengthens our relationship and demonstrates our ability to work together to craft a solution that allows Nektar the ability to pursue additional commercial opportunities for the Exubera and NGI inhaled insulin franchises.”

Some analysts have criticized the way Pfizer exited the Exubera partnership.

During Pfizer's third-quarter earnings call Kindler notified the public of the company's decision to halt marketing of Exubera. Biotech partner Nektar Therapeutics was taken by surprise.

“We first learned…of Pfizer's decision to walk away from Exubera from their press release,” said Howard Robin, president and CEO of Nektar, in a statement.

“We were taken aback by the manner in which [Pfizer] management handled the situation,” Morgan Stanley analyst Jami Rubin wrote in a research note.

Share this article:

Email Newsletters

More in News

BMS Q2 sales slip, Eliquis, Yervoy soar

BMS Q2 sales slip, Eliquis, Yervoy soar

The company attributed part of the Eliquis boost to the BMS-Pfizer DTC and education efforts.

Gilead, Merck HCV marketing battle may be on horizon

Gilead, Merck HCV marketing battle may be on ...

Disclosed in its earnings report yesterday, Gilead may have a card up its sleeve to counter Merck's experimental hep. C combo regimen.

Sales of Biogen MS pill pick up overseas

Sales of Biogen MS pill pick up overseas

Biogen Idec is seeing strong sales for blockbuster MS drug Tecfidera, especially overseas where it's beginning to catch fire this summer.