Pfizer Inc will drop efforts to develop medicines for heart disease, obesity, and bone health to focus on more lucrative areas such as cancer and Alzheimer's disease.
The New York based company would be leaving an area that includes its flagship $12 billion per year cholesterol-lowering drug Lipitor. The move is part of an effort to restructure the company into business units responsible for their own profits and losses. The plan is expected to include job cuts and a reduction in spending on research and development.
Steve - hmm...have they finally realized there are few pharmacological miracle cures for chronic disease? After the recent failures and adverse effects concerning obesity drugs Alli and Acomplia, heart disease drug Vytorin, and the class Bisphosphonate bone drugs, Pfizer sees the writing on the wall. This is a huge opportunity for preventive medicine.
Tuesday, September 30, 2008
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