Weak Sales Prompt Pfizer to Cancel Diabetes Drug
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Pfizer will take a charge of $2.8 billion for costs associated with Exubera, making it one of the most expensive flops in the history of the pharmaceutical industry.
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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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British pharmaceuticals giant GlaxoSmithKline said Wednesday it would cut jobs and costs, after third-quarter profits slid on poor sales of diabetes pill Avandia and fierce competition from generic drugs.
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Pfizer Inc.  on Wednesday  reported lower-than-expected quarterly earnings on competition  with generics, and said global sales of cholesterol fighter  Lipitor fell 13 percent amid slipping demand for the company&#39;s  flagship product.
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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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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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Pfizer Inc.  on Wednesday reported lower-than-expected quarterly earnings on competition with generics, and said global sales of cholesterol fighter Lipitor fell 13 percent amid slipping demand for the company's flagship product.
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Contrary to what the product promises to do, the latest Viagra campaign has gone limp. According to US media reports, the US-based Food and Drug Administration has ordered drug major Pfizer to stop running
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Drug makers failed to bounce back from a Thursday slide, with many drug stocks closing down Friday as drug giant Pfizer Inc. and generic drug challenger Alpharma Inc.
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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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SuperGen Inc. on Monday said it has  withdrawn an application to market its pancreatic cancer drug  in the United States due to insufficient data, casting a cloud  on the drug's future in the world's biggest market and sending  the company's shares down as much as 16 percent.
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British pharmaceutical giant GlaxoSmithKline said Wednesday it would cut jobs and costs as it blamed a fall in third-quarter profits on sliding sales of controversial diabetes drug Avandia.
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GlaxoSmithKline PLC, the world's second-largest drug maker, began a campaign to challenge a report that linked its diabetes drug Avandia to heart risks and caused its stock to decline 11 percent in the eight days through Tuesday. The shares rose yesterday.
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SuperGen Inc. SUPG.O on Monday said  it has withdrawn an application to market its pancreatic cancer  drug in the United States, casting a cloud on the drug's future  in the world's biggest market and sending the company's shares  down as much as 16 percent.
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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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GlaxoSmithKline said it would cut jobs as part of a cost-savings plan after a sharp drop in sales of its diabetes drug and generic competition led to a 5.8 percent drop in profits.
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NEW YORK/LONDON  - Shares of Pfizer Inc.  fell 15.6 percent in opening trade on Monday, wiping out nearly $30 billion of market value, after the world's biggest drugmaker scrapped development of its most important experimental medicine.