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 sustained a series of recent reversals.
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Business & money: US sales of top selling diabetes drug down 50% after tougher regulation and generics hurt entire sector.
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Pfizer Inc , the world's largest drug maker, said on Friday it is in talks with investors about spinning off its Japanese research and development laboratory, albeit as a much smaller organization.
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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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Shares of Pfizer (PFE:NYSE - news - research) dropped Thursday after a Canadian newspaper reported that the arthritis drug Celebrex is &quot;suspected of contributing to at least 14 deaths.
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Some analysts are betting Pfizer Inc.  PFE.N won't have to withdraw its arthritis drug Celebrex but  they do expect sales to fall after a study of the drug in  cancer patients showed it increased the risk of heart attacks.
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Drug maker GlaxoSmithKline's medical director said the company's study of the heart risk associated with its Avandia diabetes treatment may be in jeopardy because patients have dropped out following reports of the drug's risks, The New York Times reported on Saturday.
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Pfizer Inc.  on Wednesday reported lower second-quarter earnings on competition with generics, and said sales of its best-selling cholesterol fighter Lipitor declined 13 percent.
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A federal judge denied a request by Pfizer (nyse: PFE - news - people ) to halt competitors&#39; sales of gabapentin, a generic form of Pfizer&#39;s Neurontin epilepsy drug.
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Stock falls on news treatment failed a mid-stage trial, company will cease developing drug. NEW YORK  - AtheroGenics Inc.
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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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Novo Nordisk discontinues development of the troubled diabetes treatment.
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The drug company's experimental treatment for Alzheimer's  failed to prove effective in a big clinical trial. The stock  closed Tuesday at $45.85 on the New York Stock Exchange before  falling 10 percent in after-hours trading following release of  the trial results.
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Pharmaceutical giant GlaxoSmithKline said Thursday that net profits fell in 2007 due to disappointing sales of the diabetes drug Avandia and increased competition from generic drugs makers.
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Drug company Pfizer has pulled its advertising of arthritis drug Celebrex following a study suggesting it could cause heart attacks and strokes.
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In a surprising setback for the  world's largest drugmaker, Pfizer Inc.  halted  development on Saturday of its top experimental medicine, the  cholesterol drug torcetrapib, due to safety concerns.
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Shares in Pfizer Inc fell 11 percent in Europe on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.