FDA committee votes against J&J arthritis drug; scientists successfully edit genes; Shire mulls ADHD spin off
The company refutes a Financial Times rumor that one was happening soonish.
The company plans to spin off its pharmaceutical unit.
The company, which expects a 9% to 10% sales jump in 2014, says it will split into two independent companies by the middle of next year.
The company said it may use Phase II data of a breast cancer drug for FDA review, part of an earnings presentation that also included its perspective on what a pre-2017 breakup would take.
An analyst notes that early Phase III results in a psoriasis clinical trial could change the drug's efficacy profile. It could also fill out the financial potential of a standalone innovative unit, should Pfizer divide.
Analyst Seamus Fernandez writes that Merck needs to undergo a deep overhaul, continuing the summer narrative that has enveloped Pfizer and Novartis.
The company said Monday it was putting up walls among its businesses and will begin financial reports for each of them starting in January. The key: each has its own emerging markets business unit.
Onyx says no to Amgen bid, yes to other options; Pfizer/BMS may be able to expand Eliquis appeal; Covidien officially divides into two.
The pharmaceutical behemoth is betting at least $650 million on the Aragon Pharmaceuticals Ph. II drug.
Pfizer seeks full Zoetis split, Novartis gets another NICE Lucentis indication, BI tussles with the FDA and Elsevier names a Cleveland Clinic doc EIC
The Pfizer chief told investors that the company will provide "transparency" on its new and established products businesses, with a view toward a possible Abbott-esque spinoff down the road