Pharmaceutical firms await anti-clotting ruling

Bristol-Myers Squibb Co. and Pfizer Inc. said Wednesday the Food and Drug Administration has accepted a new application for their anti-clotting drug Eliquis and will make a decision by March 17.

The companies want the FDA to allow them to market Eliquis as a preventive treatment for stroke and embolism in patients with atrial fibrillation, a type of irregular heartbeat. The FDA has twice delayed approval of Eliquis.

Eliquis is one of three drugs in a new class of blood thinners seen as big moneymakers. The other two drugs are Boehringer Ingelheim's Pradaxa, which was approved by the FDA in late 2010, and Bayer HealthCare and Johnson & Johnson's Xarelto, approved in November 2011.

The FDA was scheduled to make a decision on Eliquis in March 2011 before saying it needed more time to review additional data. In June the FDA asked for more information from large international studies of the drug.

European Union regulators approved the drug in May 2011 for preventing blood clots in patients having hip or knee replacement surgery, a smaller pool of patients than those with atrial fibrillation. Earlier this month an EU regulatory panel recommended that Eliquis be approved for preventing strokes in atrial fibrillation patients.

Pfizer and Hisun take step towards forming jv

Pfizer and Chinese pharmaceutical firm Zhejiang Hisun Pharmaceutical have entered into a framework agreement to establish a joint venture to develop, manufacture and commercialise off-patent pharmaceutical products in China and global markets.

The framework agreement builds on a previously announced memorandum of understanding (MOU), and is a step towards the formation of a joint venture between the two companies.

The aim would be to strengthen the ability of the firms to reach more patients with high-quality medicines in the area of branded generics.

The potential joint venture would be called Hisun Pfizer Pharmaceutical, 51% owned by Shanghai-based Hisun (for a US$295m investment), with Pfizer taking 49% (and investing $250m).

Both companies could contribute selected existing products, manufacturing sites, cash and other relevant assets after the joint venture is formed.

Pfizer Blames Birth Control Recall On Packaging Error

Pfizer recalled 1 million packages of birth control pills last Wednesday, as a result of mechanical and vision inspection problems on its packaging line in December 2011. The error caused inexact tablet counts or out-of-sequence tablets in the blister packs. In an investigation, the company discovered 14 lots of Lo-Ovral-28 and 14 lots of the generic norgestrel/ethinyl estradio pills contained incorrect dosing.

A Pfizer spokesperson said an automatic packaging process placed the pills in the wrong order in the packs, meaning that placebo pills were placed where active ingredient pills should have been, and vice versa.

The company believes that only 30 packets of the birth control pills were affected by the mix-up, and that the problem has been identified and fixed.In a statement, Pfizer said this packaging issue shouldn't cause any health risks, but added, "as a result of this packaging error, the daily regimen for these oral contraceptives may be incorrect and could leave women without adequate contraception, and at risk for unintended pregnancy."The pills were manufactured by Pfizer last year, but marketed by Akrimax Pharmaceuticals.

Pfizer recalls birth control pills in US because they may not work

Pharmaceutical giant Pfizer on Tuesday announced a recall of some birth control pills in the United States, because they may not contain enough contraceptive to prevent pregnancy.Pfizer said the birth control pills posed no health threat to women but urged consumers affected by the recall to "begin using a non-hormonal form of contraception immediately."The recall involved 14 lots of Lo/Ovral-28 tablets and 14 lots of Norgestrel and Ethinyl Estradiol tablets, which Reuters reported involved about one million packets of birth control pills.Pfizer said an investigation found some blister packs of the oral contraceptive might contain an inexact count of inert or active ingredients in the tablets."As a result of this packaging error, the daily regimen for these oral contraceptives may be incorrect and could leave women without adequate contraception, and at risk for unintended pregnancy," the company said in a statement on its website.The pills were manufactured by Pfizer and marketed by Akrimax Pharmaceuticals and shipped to warehouses, clinics and retail pharmacies nationwide, the company said.

Pfizer wins battle over Viagra trademark issue

A European Court has ruled that the name Viaguara cannot be registered as an EU trademark for energy and alcoholic drinks because it is too similar to Pfizer’s erectile dysfunction drug Viagra.

The EU’s General Court ruled that the similarity allowed Viaguara ‘to take unfair advantage of the distinctive character or repute of the trademark Viagra’.

Warsaw-based Viaguara SA applied for an EU trademark in 2005, but was refused. The court has now rejected the company’s appeal. The General Court ruling itself can only be appealed on points of law.

Also because of the medical implications, the court said it would be dangerous to let any confusion exist.

‘Even if the non-alcoholic drinks concerned do not actually have the same benefits as a drug to treat erectile dysfunction, the consumer will be inclined to buy them thinking that he will find similar qualities, such as an increase in libido,’ the court said.

The court concluded that Viaguara SA, by using a mark similar to Viagra was ‘attempting to ride on the coat-tails of that mark in order to benefit from its power of attraction, its reputation and its prestige’. It was also attempting to exploit, ‘without paying any financial compensation’, the marketing effort expended by Pfizer to promote its own products.

In order to avoid potential confusion among pharmaceutical brands, in a separate announcement, Thomson CompuMark, a global leader in trademark searching and brand protection solutions, has launched Global Pharmaceutical Search, a new service providing targeted, global trademark intelligence in a single online report.

Search coverage includes the firm’s proprietary, trademark office records, web and domain name coverage, and US and European regulatory and industry-specific sources, including pharmaceutical names in use. Brand owners can select the registers that match their product strategy, including the US, UK, Spain, France, Germany, Switzerland, Italy, Benelux, and Canada.

The new law will allow patients who have “lawfully obtained a controlled substance” to deliver medicines to drug take-back and recycling programs that

Pharmaceutical giant Pfizer (NYSE: PFE | PowerRating) on Friday announced the start of its tender offer for drug maker KingPharmaceuticals (NYSE: KG | PowerRating), which it is seeking to acquire for USD3.6bn (EUR2.6bn) in cash. The tender period expires on 19 November, with the acquisition expected to close late in the fourth quarter of 2010 or early in the first quarter of 2011. Pfizer offered to pay earlier this month USD14.25 per share for King, which represents a premium of 40% to the companyaEUR(TM)s closing price on 11 October. The boards of the two companies are supporting the proposed transaction that will enable Pfizer to expand its business profile, as well as its product offering in painmanagement. The deal will be also accretive to earnings from 2011 through 2015. Country: , USA Sector: Pharmaceuticals Target: KingPharmaceuticals Inc Buyer: Pfizer Inc Deal size in USD: 3.6bn Type: Corporate acquisition Status: Bidding Comment: Tender offer expires on 19 November.

Pfizer Announces Acquisition of King and Opens Door for Pharmaceutical Consulting Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/10

Pfizer announced on October 12 its acquisition of Bristol, TN-based King Pharmaceuticals, having entered into a "definitive merger agreement," an acquisition that will allow Pfizer, according to Chairman and CEO Jeffrey Kindler, to "offer a fuller spectrum of treatments for patients across the globe who are in need of pain relief and management." Kindler further explained that the $3.6 billion acquisition of King, a diversified pharmaceutical company specializing in discovery and clinical development, would mean "the revenue generated by King's portfolio will further diversify Pfizer's business, while at the same time contributing to steady earnings growth and shareholder value."

Facing patent expiration on the blockbuster drug LIPITOR, Pfizer is seeking ways to increase revenues, decrease costs, and hedge bets, which includes the $110 billion merger with Warner-Lambert in 2000 and the $60 billion acquisition of Pharmacia in 2002. Accordingly, "Brian Markison, Chairman and CEO of King, said that "with Pfizer's commercial, medical and regulatory expertise, global strength in patient services and reimbursement, and global scale and resources, we believe Pfizer can build on our foundation and take our business to the next level."

Pfizer anticipates that this acquisition, with respect to operating expenses, will yield an initial cost savings of approximately $200 million, to be fully realized by the end of 2013.

The acquisition of King is part of Pfizer's broader and ongoing diversification strategy, which has "to date encompassed the multi-billion-dollar acquisition of Wyeth, but also various in-licensing agreements and a concerted movement into the generics market as a means to drive growth in the emerging markets," according to analyst Simon King. The danger in such a strategy, though, is that such rapid growth could lead to an unwieldy organization with complex management, compliance, and reporting issues.

Pharmaceutical consultants agree that companies should do, as Pfizer has in this situation, everything they can to maintain a competitive edge while still ensuring quality. But when pharmaceutical companies swell by mergers and acquisitions, problems arise that can negate the potential benefits. Nigel Smart, Managing Partner of Smart Consulting Group, warns that "growing drug companies will be able to remain competitive, efficient, and compliant only if they "apply the appropriate techniques and methods in a logical and consistent fashion."

Pfizer to buy King Pharmaceuticals

Pfizer stepped up the consolidation in the drug industry on Tuesday with a $3.6 billion deal to buy King Pharmaceuticals, a maker of pain medications.

The deal is Pfizer’s biggest since its $68 billion purchase of Wyeth last year, which set off a cascade of big pharmaceutical companies’ bolstering their product pipelines with acquisitions. Under the terms of the King deal, Pfizer will pay $14.25 a share in cash through a tender offer. The offer represents a 40 percent premium to King’s closing price on Monday and is more than the company’s shares have traded for in the last three years.

King’s stock soared 39.3 percent Tuesday, to $14.14, nearly matching Pfizer’s offer price.

Big drug companies have sought mergers to strengthen their product lineups as patents expire. Late next year, Pfizer is set to lose the patent on the cholesterol fighter Lipitor.

Pfizer Reviews Possible Sale Of Capsugel Unit

Pfizer Inc. (PFE) is reviewing the options for its Capsugel business, including a possible sale of the unit that makes capsules and other drug-delivery systems.

The New York-based pharmaceutical company said the timing of the move came as part of its regular review of businesses, combined with "improved financial-market conditions." Like many large pharmaceutical companies, Pfizer is facing generic competition on some of its biggest-selling drugs in coming years and has been adjusting its strategy accordingly.

"This is definitely outside the core area of focus for Pfizer, so it makes sense," Morningstar analyst Damien Conover said of the Capsugel business.

The potential price tag for the operation is a mystery. Capsugel brought in $740 million in 2009 revenue, but Pfizer doesn't break down its profitability, obviously key to any potential buyer.

Those profits probably aren't comparable to selling high-margin branded drugs, noted Miller Tabak analyst Les Funtleyder, and Pfizer likely questioned whether it should continue investing in the business.

"This is a resource allocation decision," he said. "At least Pfizer is taking the time to enhance the returns of its assets."

Capsugel became part of Pfizer through a series of acquisitions. It was originally part of Parke-Davis, a drug maker bought in 1970 by Warner-Lambert, which was then bought by Pfizer in 2000.

Capsugel has manufacturing operations in the U.S., along with similar locations in Europe and Asia, including China and India.

A Pfizer spokeswoman said Pfizer will likely remain a customer of Capsugel, regardless of the review's outcome. It has hired Morgan Stanley to conduct the review, and expects an announcement by the end of the first quarter.

Conover believes that a more diversified drug maker, such as Johnson & Johnson (JNJ) or GlaxoSmithKline PLC (GSK, GSK.LN) might be interested in owning Capsugel.

But it also could bring interest from generic companies that produce large amounts of pills with lower margins, including Teva Pharmaceutical Industries Ltd. (TEVA) and Watson Pharmaceuticals Inc. (WPI). In addition, generic companies could benefit from selling new versions of an existing drug.

Officials from all four companies declined to comment on any deal speculation, citing policy.

Conover noted that the business of finding new formulations and delivery methods for existing drugs, part of Capsugel's business, isn't as important to the large pharmaceutical companies as it was a decade ago.

"The industry is focusing on major steps forward in innovation. Not evolutionary, but revolutionary steps forward in drug development," he said.

As Pfizer streamlines its business--it has announced layoffs and site closures as a result of its $68 billion acquisition of Wyeth last year--the company is expected to shed more businesses.

"I would expect that they will discover things that should either be done differently or done elsewhere," Funtleyder said.

Capsugel is one of Pfizer's nine operating units. Five of them are in the Biopharmaceutical businesses group, while the other four fall into the Diversified businesses, which includes Capsugel, Animal Health, Consumer Healthcare and Nutrition.

Conover fingered Pfizer's nutrition business as a likely target for divestiture. He noted that the company may emulate Bristol-Myers Squibb Co. (BMY), which found success in spinning off a similar business as Mead Johnson Nutrition Co. (MJN)

The Pfizer spokeswoman said the review of Capsugel has "no bearing" on the other units and the company "remains committed to the Animal Health, Consumer Healthcare and Nutrition businesses."

Shares of Pfizer recently slipped 5 cents to $17.18.

Cancer, bowel drugs on U.S. FDA safety scrutiny list

* FDA probing potential risks from more than a dozen drugs

* List does not mean drug caused problem - FDA (Adds Medicis comment paragraphs 10-12)

WASHINGTON, - More than a dozen drugs including a cancer therapy and a bowel medicine are under early scrutiny for potential side effects, U.S. regulators said in a quarterly list released on Thursday.

The Food and Drug Administration said it was investigating cases of liver failure in patients treated with Pfizer Inc's (PFE.N) cancer drug Sutent. The agency also is reviewing gastrointestinal perforation reported with Relistor, a drug from Wyeth (WYE.N) and Progenics Pharmaceuticals (PGNX.O) for treating opioid-induced constipation.

Appearing on the list "means that FDA has identified a potential safety issue, but does not mean that FDA has identified a causal relationship between the drug and the listed risk," the agency said.

The FDA releases a quarterly list of safety probes as part of an effort to inform the public about early investigations of potential side effects that have been reported. The list released on Thursday covers issues identified between January and March 2009.

Pfizer said in a statement it would "work with the FDA to assess the reports (on Sutent) and determine a path forward."

In clinical trials, liver failure was seen in less than 1 percent of patients with solid tumors who were treated with Sutent, the company said.

"We stand behind the safety and efficacy of Sutent," Pfizer said. The drug is approved for treating advanced kidney cancer and a digestive cancer known as gastrointestinal stromal tumor.

On Relistor, Wyeth and Progenics "are engaged in discussions with the FDA" regarding intestinal perforations that were reported and "continue to monitor this issue closely," Wyeth spokeswoman Gwen Fisher said.

The FDA also said it was probing King Pharmaceuticals' (KG.N) Flector pain patch for hypersensitivity reactions and Medicis Pharmaceutical Corp's (MRX.N) Solodyn antibiotic for autoimmune disorders in pediatric patients. Solodyn is approved for treating red, pus-filled pimples and bumps from moderate to severe acne.

Dr. Ira Lawrence, chief medical officer at Medicis, said Solodyn was part of a class of minocycline antibiotics that "have been used for many years for the treatment of acne and other diseases with an excellent safety record."

"It's very important to understand these are potential concerns" listed by the FDA and the agency was not suggesting that doctors stop prescribing the drugs, Lawrence added.

He said the company did not promote Solodyn for patients under age 12.

A King official could not immediately be reached for comment on Flector.

Boehringer Ingelheim Pharmaceuticals To Buy Some Wyeth Assets

Boehringer Ingelheim Pharmaceuticals announced Monday it has entered an agreement with Pfizer to acquire certain assets of Wyeth Pharmaceutical's Fort Dodge Animal Health business.

Boehringer, which has nearly 3,000 employees in Connecticut, is expected to acquire the Fort Dodge assets once the Pfizer-Wyeth merger is complete.

In addition to its branded pharmaceuticals business, Boehringer's divisions include generic drugs, chemicals, consumer products and animal health the last two of which are also based in Ridgefield.

SC AG negotiates settlement with pharmaceutical giant

South Carolina Attorney General Henry McMaster says his office is negotiating a settlement with pharmaceutical giant Pfizer.

The drug maker was previously ordered to pay $2.3 billion because of illegal sales tactics, including $331 million to 49 states for their Medicaid programs.

South Carolina was the only state not included in that settlement.

McMaster says he thinks his office can get more money by negotiating their own deal but the attorney general did not say how much.

Negotiations have been going on since spring.

Pharmaceutical giant Pfizer settles with Justice Department, to pay 2.3 Billion in fines

In a record settlement, the U.S. Justice department announced on September 2nd that a settlement has been reached in its prosecution of fraudulent activities by the pharmaceutical company Pfizer and its subsidiaries. The charges included fraudulent marketing and related fraudulent medical insurance claims, as well as kickbacks to healthcare providers for prescribing Pfizer medicines. Pfizer has agreed to pay $1.3 billion in criminal fines and $1 billion for civil violations. Pfizer illegal drug promotion activities included the medicines Bextra, Geodon, Zyvox, and Lyrica. The civil settlement will have Pfizer pay $669 million to Federal agencies and $331 million to state Medicaid programs.

Many of the charges involved promotion of drugs for uses that were not approved by the FDA or other regulatory bodies that set medical treatment standards. This practice of promoting medications for a variety of conditions where benefits and risks have not been sufficiently studied, in order to increase sales and profits, has become a common form of unethical behavior by pharmaceutical companies. Unfortunately, company practices are difficult to monitor. The Pfizer case had been investigated for years following whistleblower tips about the illegal activities. Even when caught and forced to accept fines for these activities the companies may still reap profits well beyond the cost of fines and litigation. Government funds for research and drug development continue to be provided to companies that have been caught engaging in criminal activities, so it seems that existing penalties are not a sufficient deterrent to effectively diminish these corrupt practices.

As within other categories of crime, the abuses exposed in cases such as this one involving Pfizer may be merely the tip of the iceberg. Corruption of drug research, FDA approvals, and product marketing is seen by some as being so entrenched in the health care system that little information about drugs provided to doctors and consumers can be considered reliable. This distrust of pharmaceutical drugs is fueling a growing public demand for natural supplements and alternative therapies. Yet, even in these areas there are profit motives involved and cases of unethical activity that consumers need to be aware of. The best way for consumers to protect themselves is to find a variety of information sources and learn to discern which information is most accurate and reliable. Even a government free of corruption would likely not have adequate resources to effectively police corrupt corporations.

Pharmerging Versus Mature Pharmaceutical Markets: Where Is Pharma Going? Where Is Pharma Growing? -- an Industrial Info News Alert

SUGAR LAND, TX- Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas) -- One of the latest trendy phrases zipping around the Pharmaceutical Industry is "pharmerging markets." The phrase was coined to refer to the emerging world markets that are expected to experience double-digit growth, which, in turn, will unfortunately be offset by the lackluster performance predicted in established markets. The pharmerging areas are poised to receive the next major influx of capital activity from all of the Pharmaceutical Industry majors, e.g. Pfizer Incorporated (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), Merck & Company Incorporated (NYSE:MRK), albeit with a definite risk of losing both intellectual and physical property.

Drug industry, Pfizer lead in health lobbying

WASHINGTON — The drug industry's trade group and one of the nation's biggest pharmaceutical companies reported spending more money than other health care organizations on lobbying in the second quarter of this year.

With the fight over President Barack Obama's effort to revamp the nation's health care system escalating, the Pharmaceutical Research and Manufacturers of America said it spent $6.2 million lobbying in April, May and June, according to reports to Congress due Monday. Pfizer Inc., the New York-based producer of numerous drugs, ranked second in the health care sector at $5.6 million.

In reports filed by 11 p.m. Monday, 22 health-related associations and companies had reported spending at least $1 million each lobbying during the quarter.

The stakes are huge for the health industry. Congressional Democrats are pushing legislation that could cost roughly $1 trillion over the coming decade, paid for in part by cuts in federal health care programs such as Medicare. Lobbyists have been flooding Capitol Hill for months, and many interest groups have already invested millions of dollars in ad campaigns favoring or opposing various portions of the emerging bills.

According to the nonpartisan Center for Responsive Politics, the health sector reported spending $127 million in lobbying during the first three months of this year, more than any other area.

It can take many days for all the reports to be filed. In the second quarter of 2008, 28 health care concerns reported spending at least $1 million lobbying.

Of the thousands of reports filed by Monday evening covering lobbying on all subjects, only three organizations reported spending more during the second quarter than PhRMA, the drug industry trade group. The American Coalition for Clean Coal Electricity reported spending $11.3 million lobbying at a time when Congress is considering energy legislation. The U.S. Chamber of Commerce, the nation's largest business group, reported spending $7.4 million, and the General Electric Co. reported $7.2 million in lobbying expenditures.

Including its latest report, PhRMA has now spent $13.1 million lobbying so far this year. Pfizer has reported $11.7 million in lobbying expenses for 2009.

Other top lobbying spenders among health-related organizations for this year's second quarter included the American Medical Association, $4 million; Eli Lilly and Co., $3.6 million; the American Hospital Association, $3.5 million, and the Blue Cross and Blue Shield Association, $2.8 million.

Also, GlaxoSmithKline, $2.3 million; CVS Caremark Inc., $2 million; Bayer Corp. and America's Health Insurance Plans, representing the health insurance industry, $1.9 million each; Novartis and the Biotechnology Industry Organization, each $1.8 million, and Metlife Group Inc., $1.7 million.

Also, Sanofi-Aventis U.S. Inc. reported spending $1.6 million in the second quarter; Johnson & Johnson Services Inc. $1.6 million; Merck & Co. Inc. $1.5 million; F. Hoffman-La Roche Ltd. and its affiliates, $1.5 million; the American College of Radiology Association, Wellpoint Inc. and Astrazeneca Pharmaceuticals LP, each $1.2 million, and Siemens Corp. and UnitedHealth Group Inc., $1 million each.

Wyeth shareholders OK Pfizer takeover

NEW YORK — US pharmaceutical firm Wyeth said Monday its shareholders overwhelmingly approved a deal to be taken over by rival Pfizer that would boost the size of the world's biggest drugmaker.

A preliminary count showed 98 percent of shares voted favored the merger, Wyeth said.

"The merger is in the best interests of our company and our stockholders," said Wyeth chairman and chief executive Bernard Poussot.

"Combined with Pfizer, we see opportunities for increased scale where needed and resources to become the world's premier biopharmaceutical company and an industry leader in human, consumer and animal healthcare, in both disease prevention and treatment. The combined organization will continue Wyeth's mission to bring innovative medical solutions to patients around the world."

Pfizer, already the world's biggest pharmaceutical firm, announced the planned merger in January, seeking diversification as it prepares for the expiration of patents on its blockbuster drugs.

The 68 billion dollar (48.2 billion euro) deal appears to be the biggest takeover in the global pharmaceutical sector since Pfizer acquired Warner-Lambert Co. for 93.4 billion dollars in 2000.

The EU's executive branch -- which enforces EU competition law -- approved the deal last week contingent on Pfizer's commitment to divest some of its operations in animal health vaccines, pharmaceuticals and medicinal feed additives in Europe.

FDA Approves Single-Dose Oral Antibiotic

The FDA in June approved Zmax (azithromycin extended release) by Pfizer for oral suspension, a one-dose treatment for mild to moderate acute bacterial sinusitis (ABS) and community-acquired pneumonia (CAP) in adults, according to a company news release.

Zmax delivers a complete course of therapy in a single two-gram dose. During the first 24 hours after a dose of Zmax, three times as much drug reaches patients' tissues than with a standard dose of immediate-release azithromycin, according to the release. This "front loading" of Zmax provides high drug levels earlier in the course of infection when the bacterial burden is likely to be highest, according to the release.

Zmax's technology allows for the release of the medicine in the small intestine instead of the stomach, which results in fewer side effects, according to the release.

Side effects from Zmax were generally mild to moderate. In the pivotal clinical studies, the most common treatment-related adverse reactions in adults were diarrhea/loose stools, nausea, abdominal pain, headache and vomiting.

Boehringer, Vitae ink $242 mln Alzheimer's deal

* $42 mln upfront, $200 mln pre-commercial milestones

* Collaboration covers beta-secretase inhibitors

LONDON, - Germany's Boehringer Ingelheim has signed a deal worth up to $242 million with U.S. biotech company Vitae Pharmaceuticals to research and develop new Alzheimer's drugs, the companies said on Monday.

Vitae will get $42 million upfront -- consisting of cash, an equity investment and near-term research funding -- and will also be eligible for $200 million in pre-commercial milestone payments, depending on the progress of products in development.

Vitae may receive additional commercial performance payments and royalties from Boehringer on potential future sales.

The partners, both of which are unlisted, will be working to develop drugs that inhibit beta-secretase, an enzyme responsible for the build-up of sticky deposits, or plaques, in the brain.

The formation of these plaques is thought to play a key role in the development of Alzheimer's disease and several companies are working on beta-secretase inhibitors to tackle the degenerative disorder.

Alzheimer's is a hot area for pharmaceutical research, since the incidence of the brain disease is rising rapidly as people live longer. But developing effective treatments has proved notoriously difficult.

Existing drugs, such as Aricept from Pfizer (PFE.N) and Eisai (4523.T), can ease symptoms but do not stop the disease.

Pfizer Looking for Mideast Acquisitions, Forecasts 10% Growth

Pfizer Inc., the world’s biggest drugmaker, is seeking acquisitions in emerging markets and the Middle East, and forecasts annual “double-digit growth” in the region in the next five years, a senior executive said.

“The Middle East is becoming one of our key emerging markets,” Jean-Michel Halfon, head of Pfizer’s emerging markets unit, said in an interview in Dubai. “This is a market where we should see double-digit growth and where Pfizer should be able to exceed $1 billion in sales.”

Pfizer plans to add at least $3 billion in annual revenue from sales in developing countries by 2012. It is among major pharmaceutical companies seeking increased sales in emerging countries such as China as revenue in mature markets in the U.S. and Europe sags.

The New York-based company is looking to make acquisitions “in the more established markets such as Egypt, Saudi Arabia and the rest of the Gulf,” Guy Lallemand, Pfizer’s regional president for Africa & Middle East, said in an interview. “We are not looking for a specific country, we would be looking for a regional opportunity.”

Sales this year in the Middle East are expected to be about $500 million and the company is forecasting between 8 percent and 10 percent annual growth, Lallemand said. Iraq, Iran and Syria are among markets where Pfizer is looking to expand its business, he added.

Acquisition

Pfizer said Jan. 26 it would pay $33 plus 0.985 of a Pfizer share for each share of Wyeth, the world’s seventh largest drugmaker by assets. The acquisition, valued at more than $60 billion, would give Pfizer the pneumonia vaccine Prevnar and the depression pill Effexor to offset some of the $12 billion in sales it will begin losing in 2011 when the cholesterol pill Lipitor faces generic competition.

Wyeth shareholders are scheduled to vote on the merger on July 20, according to court filings.

Respect for patents, openness toward clinical trials and rapid review of products in the Gulf are encouraging Pfizer’s expansion in the region, Lallemand said.

“They are not seeking to redo and reproduce work done in Europe and the United States,” he said.

Dodd's wife serves on health care company boards

WASHINGTON — The wife of a senator playing a lead role on a national health care overhaul sits on the boards of three health care companies, one of several examples of lawmakers with ties to the medical industry.

Jackie Clegg Dodd, wife of Sen. Chris Dodd, serves on the boards of Javelin Pharmaceuticals Inc., Cardiome Pharma Corp., and Brookdale Senior Living, their Securities and Exchange Commission filings and Web sites show.

Sen. Dodd, D-Conn., is filling in for ailing Sen. Edward Kennedy, chairman of the Health, Education, Labor and Pensions Committee, which will soon start work on a health care bill.

Dodd, who as Senate Banking Committee chairman also has been an architect of the nation's financial industry and housing rescue plans, did not file a new disclosure report outlining his personal finances as most other senators did in May. The Senate was releasing those reports Friday.

Dodd sought a 90-day extension to file his report covering last year, giving him until mid-August to submit his report.

Other publicly available documents show Mrs. Dodd last year was one of the most highly compensated non-employee members of the Javelin Pharmaceuticals Inc. board, on which she has served since 2004. She earned $32,000 in fees and $109,587 in stock option awards last year, according to the company's SEC filings.

Mrs. Dodd earned $79,063 in fees from Cardiome in its last fiscal year, while Brookdale Senior Living gave her $122,231 in stock awards in 2008, their SEC filings show.

A complaint filed by Citizens for Responsibility and Ethics in Washington, a government watchdog group, led the Senate Ethics Committee to begin looking at mortgages that Dodd and Sen. Kent Conrad, D-N.D., received from Countrywide Financial Corp.

The controversy involved a Countrywide "VIP" program for "friends of Angelo," Countrywide's then-chief executive Angelo Mozilo. The SEC filed a lawsuit this month accusing Mozilo of civil fraud and illegal insider trading.

Both senators have denied any wrongdoing. Dodd's mortgages haven't appeared in his public financial disclosure reports and didn't have to because they were for non-rental homes; Conrad disclosed a Countrywide mortgage on a rental property but not one for a vacation home.

Dodd is not the only member of the Senate health committee with ties to health care interests:

_ Sen. Jay Rockefeller, D-W.Va., reported $15,001 to $50,000 in capital gains for his wife from the sale of a stake in Athenahealth Inc., a business services company that helps medical providers with billing and clinical operations.

Rockefeller is honorary chairman of the Alliance for Health Reform, a Washington nonprofit whose board includes representatives from the UnitedHealth Group health insurance company; AFL-CIO labor union; the AARP, which sells health insurance; St. John Health, a nonprofit health system that includes seven hospitals and 125 medical facilities in southeast Michigan; CIGNA Corp., an employer-sponsored benefits company; and the United Hospital Fund of New York.

Rockefeller also serves on the advisory board of the Children's Health Fund, a New York nonprofit focused on pediatric health care, and is an honorary board member of Beckley Health Right Inc., a nonprofit community medical clinic.

_ Sen. Tom Coburn, R-Okla., is a practicing physician. He reported slight business income, $268, from the Muskogee Allergy Clinic last year; $3,000 to $45,000 in stock in Affymetrix Inc., a biotechnology company and pioneer in genetic analysis; $1,000 to $15,000 in stock in Pfizer Inc., a pharmaceutical company; and a $1,000 to $15,000 interest in Thomas A. Coburn, Md., Inc.

Under Senate ethics rules, Coburn can't accept money from his patients.

_ Sen. Judd Gregg, R-N.H., disclosed $1,000 to $15,000 each in stock in pharmaceutical companies Merck & Co., and Pfizer, the Johnson & Johnson health care products company and Agilent Technologies, which is involved in the biomedical industry.

Some members of the Senate leadership also have financial ties to the health industry.

Senate Minority Whip Jon Kyl, R-Ariz., reported $15,001 to $50,000 in stock in Amgen Inc., which develops medical therapeutics. Kyl's retirement account held stakes in several health care businesses, including the Wyeth, Bristol-Myers Squibb Co., GlaxoSmithKline, Pfizer and AstraZeneca pharmaceutical companies; medical provider Tenet Healthcare Corp.; CVS Caremark prescription and health services company; Genentech, a biotherapeutics manufacturer; and insurer MetLife Inc.