Pfizer shelves two (unpromising) drug programs

[industry_news]

In an effort to stay focused on new approvals for important new drugs, Pfizer says it has dropped two late-stage programs that just didn't measure up. Esreboxetine, an experimental therapy for fibromyalgia, and PD 332,334 for generalized anxiety disorder, will now be put on a shelf.
"They're not products that really meet an unmet medical need," spokeswoman Kristen Neese told the Associated Press. "We'd rather devote our resources to other areas." Pfizer says it carefully reviewed all of its data as well as "current market dynamics" before making its decision.
Pfizer has been repeatedly roasted by analysts for its repeated missteps in new drug development. With its pipeline under fire and its new-approval record in the tank, Pfizer has stepped up with a $68 billion plan to buy Wyeth. The pharma giant clearly hopes that Wyeth's technology and track record in vaccines and biologics can help add new programs with much greater potential.
- read the report from the AP
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