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Pfizer Profit Declines 19% After Loss of Lipitor Patent
Keywords:
The restructuring underway at Pfizer. Experts view the cut in R&D budgets, when more new drugs are needed, with skepticism. Pfizer and other drug manufacturers believe they can make up for this by working closer with universities. Pfizer is reducing the size of its Groton, Connecticut R&D facility and is moving research operations closer to universities in Boston and Cambridge, England. R&D budgets will be cut 30%, from $9.4 billon to $6.5- $7 billion. The emphasis now is to develop a new model for drug development by focussing on a few promising areas, collaborate closely with universities, and fill gaps with acquisitions, as a more efficient way to develop new drugs. In this new approach the infant nutrition business, even with its high growth rates, did not fit in. Cash from the operations sold to Nestle will be used to make share buybacks and be returned to shareholders. Other drug companies from Novartis to Bristol Myers are trying this approach.
Research and Development approaches of different pharmaceutical companies.
06/07/2006
As the R&D efforts of pharmaceutical companies become less productive new ways are being explored to develop new drugs for disease.
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Pfizer and Generic Lipitor
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Forget Generics, Pfizer Has Plenty of 'Lipitor for You'
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Pfizer Profit Declines 19% After Loss of Lipitor Patent
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Pfizer Profit Declines 19% After Loss of Lipitor Patent
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Pfizer menopause drug Aprela
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Grouped Articles
Wall Street Journal 01/31/2012
Pfizer Profit Declines 19% After Loss of Lipitor Patent
New York Times 05/01/2012
Pfizer research and development (R&D)
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Pfizer restructuring.
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Pfizer's animal health and nutrition units
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Grouped Articles
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Pfizer: Spinoff Likely for Animal Health
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Pfizer reportedly to sell division to Nestle
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Nestlé Is Near Deal for Pfizer Infant Unit
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Wall Street Journal 04/24/2012
Pfizer Profit Declines 19% After Loss of Lipitor Patent
New York Times 05/01/2012
The different approaches of Pfizer and Novartis for new drug research and development in 2009-2015
06/11/2009
Working with smaller R&D budgets and focussing the research on a few areas, collaboration with universities, and other ways to get more out of the R&D dollar.
Linked Articles
Pfizer Profit Declines 19% After Loss of Lipitor Patent
New York Times 05/01/2012
Novartis: Radically Remaking Its Drug Business
BusinessWeek 06/11/2009
Research and Development (R&D) approaches of pharmaceutical companies Pfizer and Glaxo with smaller budgets and smaller units
07/01/2010
Linked Articles
Pfizer Profit Declines 19% After Loss of Lipitor Patent
New York Times 05/01/2012
Glaxo Tries Biotech Model to Spur Drug Innovations
Wall Street Journal 07/01/2010
Pfizer's focus on its core pharmaceutical business in 2011-2015
05/02/2011
Rockoff's interview with Pfizer CEO, Ian Read, in which Read describes his strategy of focussing on new drug development and locating closer to hubs with large universities and research centers such as La Jolla, Cambridge, Massachusetts, and Cambridge, England. Pfizer sold its infant nutrition business to Nestle as part of this plan.
Linked Articles
Pfizer Profit Declines 19% After Loss of Lipitor Patent
New York Times 05/01/2012
Life Beyond Lipitor for Pfizer Chief
Wall Street Journal 05/02/2011
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