| Bristol-Myers Lifts Profits, Cuts Outlook Bristol-Myers' first-quarter profit jumped 16%, but the drug maker trimmed its full-year forecast because of costs from the U.S. health-care overhaul. online.wsj.com |
Pfizer Forms New Unit to Capitalize on Niche Diseases The Burrill Report submits: By Michael FitzhughPfizer (PFE) has formed a new rare disease unit to “significantly expand” its roster of medicines for uncommon but lucrative-to-treat diseases. The division will serve as an umbrella for rare disease programs the company is already pursuing, such as treatments for the rare genetic disorder Gaucher disease, hemophilia and Ewing's sarcoma, an unusual bone and tissue cancer. “We are coupling Pfizer's existing experience in rare diseases, such as hemophilia, with our advanced protein technologies, resources, and world-class scientific team to focus on becoming a driving force in rare disease research,” says Jose Carlos Gutierrez-Ramos, senior vice president of Pfizer’s biotherapeutics research and development group. Pfizer did not disclose how much of its nearly $8 billion annual research budget it intends to devote to the new unit, but Anne Wilson, a company spokesperson, says it would be “proportional to the medical need” in each rare indication addressed, with a focus on what Pfizer does best, protein design and manufacture and clinical development. [[GSK]], Novartis (NVS), and a growing number of venture firms, such as Third Rock Ventures, are beginning to see the potential for profit in niche diseases, a segment in which Genzyme (GENZ) and Shire (SHPGY) have found proven riches. The high price tag generally attached to specialty treatments, made in small batches for patient populations of fewer than 200,000, is also drawing Big Pharma interest as it becomes clear that fewer blockbusters are going to be padding their bottom lines. Of course, that very same attribute is beginning to generate “significant payer interest in developing cost containment strategies targeted to this sector” too, notes Pfizer in its most recent annual report. “While the impact on Pfizer of payers’ efforts to control access and pricing of specialty pharmaceuticals has been limited to date, our growing portfolio of specialty products, combined with the increasing use of health technology assessment in markets around the world and the deteriorating finances of governments, may lead to a more significant adverse business impact in the future," it says. The company's new rare diseases research unit will be lead by Edward Mascioli. Mascioli was most recently the founder and CEO of Dapis Capital, a private equity firm focused on healthcare and the life sciences. Complete Story » seekingalpha.com |
Inverness Medical Innovations Changes Name to Alere (PR Newswire) Inverness Medical Innovations, Inc. , a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, announced today that it has changed its name to Alere Inc., after shareholders approved the name change at its Annual Meeting of Stockholders held on July 14, 2010. Â The Company also announced that it expects its NYSE stock symbol to change from "IMA" to "ALR" effective Monday, July 19, 2010. us.rd.yahoo.com |
PPD Establishes Network of Sites for Conducting Phase I Trials in Patients [Business Wire] - WILMINGTON, N.C.----PPD, Inc. today announced it has established preferred provider relationships with a network of sites across North America for conducting Phase I trials in patients to meet growing client demand for these services. us.rd.yahoo.com |
PAREXEL International to Present at William Blair Emerging Growth Stock Conference [PR Newswire] - PAREXEL International Corporation announced today it will be presenting at the William Blair Emerging Growth Stock Conference in New York. Â James Winschel, Senior Vice President and Chief Financial Officer will be making a presentation on PAREXEL at 11:45 a.m. us.rd.yahoo.com |