Weak Sales Prompt Pfizer to Cancel Diabetes Drug
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The discontinuation of Exubera, an inhaled insulin, is another black eye for Pfizer, the worldâs biggest drug company, which has recently sustained a series of reversals.
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Pfizer Inc.  said on Tuesday it would cut its U.S. sales force by about 20 percent, or some 2,200 jobs, as part of a comprehensive cost-cutting program.
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Pfizer saw a 13 percent decline in sales of its best-selling cholesterol treatment, Lipitor, which contributed to lower-than-expected second quarter earnings.
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British pharmaceutical giant GlaxoSmithKline said Wednesday that third-quarter profits fell owing to fierce competition from generic drugs and sliding sales of controversial diabetes drug Avandia.
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Doctors in the United States have shunned GlaxoSmithKline Plc's diabetes drug Avandia since a study was published last week linking the drug to heart-attack risk, according to daily prescription data.
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Pfizer Inc.'s decision to scrap development of a crucial medicine sent its shares plummeting yesterday as analysts fretted about its future and speculated about which companies it might purchase to shore up its pipeline.
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NEW YORK -- Drug maker Pfizer said yesterday it would immediately stop advertising its best-selling arthritis pain reliever Celebrex to consumers after a study showed high doses of it were associated with an increased heart attack risk.
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PFIZER, the drugs group best known for producing Viagra, has suffered a collapse in US sales of its blockbuster Celebrex painkiller on the back of clinical trials showing a heightened risk of heart attacks.
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Pfizer does not plan to recall Celebrex, but the company would immediately halt advertising this popular arthritis drug to consumers after a study showed that high doses were
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NEW YORK  - US drug giant Pfizer said it will stop advertising painkiller Celebrex after a trial indicated a heart-attack risk at high doses, but vowed to carry on sales.
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U.S. stocks closed lower on Friday,  weighed down by a number of negative reports from top drug  makers, including Pfizer Inc. PFE.N, and a $2 jump in the  price of crude oil.
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Sanofi-Aventis is withdrawing its  application to sell obesity drug rimonabant -- its biggest new  drug hope -- in the United States, dealing a further blow to  its pipeline hopes.
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Rivals lead to lower sales of the pharmaceutical's only marketed drug.
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NEW YORK, Dec. 2 -- Pfizer Inc. announced Saturday that it has cut off all clinical trials and development work for a cholesterol drug that was supposed to be a star product because of an unexpected number of deaths and cardiovascular problems among patients who used it.
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Pfizer Inc.  on Wednesday reported lower-than-expected quarterly earnings on competition with generics and a surprisingly big 13 percent decline in sales of its best-selling Lipitor cholesterol fighter.
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With the sudden failure of torcetrapib, Pfizer Inc.'s most important experimental product, financial analysts predict shares of the world's largest drugmaker could fall from 5 to 25 percent on Monday and that Pfizer will need to buy other products to fill the void.
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Shares in GlaxoSmithKline fall after it issues a profit warning on the back of falling demand for a key drug.