Therapeutic Benefits Of Wyeth To Pfizer

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A comparative study of Pfizer\'s opportunities form Wyeth;s product portfolio

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Therapeutic Benefits Of Wyeth To Pfizer

  1. 1. Therapeutic benefits of Wyeth to Pfizer Ritupon Gogoi , B. Pharm, MBA
  2. 2. Key diseases Marketed products Pipeline Benefits Risks Alzheimer’s Strong pipeline Market Dominance Anti-competitive market dominance Inflammation Enbrel TRU-015 Small molecule + biological therapy Oncology Torisel Niche indications Bulking-up portfolio Diabetes Weak pipeline Pain Schizophrenia None None None Infectious diseases Prevnar Prevnar 13; meningitis New area; steady revenues Biologics culture at risk Women’s Health Premarin; Prempro Aprela Market dominance in HRT; entry to osteoporosis Market dominance in HRT Source: Datamonitor Strongly positive Positive None Negative Synergies Vaccines CORE
  3. 3. P&P- Pfizer & Problems <ul><li>Since Pfizer’s acquisition of Warner-Lambert in 2000 and Pharmacia in 2003, Pfizer has found it increasingly difficult to develop new drug candidate in-house. </li></ul><ul><li>Management focused on the integration of companies acquired rather than on the development of new drug. </li></ul><ul><li>Led to the dearth of late-stage pipeline candidates to replace Lipitor. </li></ul><ul><li>Pfizer’s pipeline also had to deal with the major blow of the failure of Torcetrapid in late 2006 because of side-effect concerns . </li></ul>
  4. 4. Benefits of Wyeth to Pfizer <ul><li>Wyeth will bring to Pfizer a number of marketed products and pipeline candidates but is unlikely to address the fundamental loss of loss of R&D productivity. </li></ul><ul><li>Pfizer has identified six high-potential disease areas that would provide the company’s future growth: oncology, pain, inflammation, diabetes, Alzheimer’s disease and schizophrenia. </li></ul><ul><li>The acquisition of Wyeth strengthens Pfizer’s position in a number of these key disease areas, notably Alzheimer’s disease and inflammation. </li></ul><ul><li>The long term prospects of the oncology portfolio are also strengthened. </li></ul>
  5. 5. Benefits of Wyeth to Pfizer Alzheimer’s growing market <ul><li>The merger will have little effect on the other key disease areas of pain, psychiatry (schizophrenia) and diabetes. </li></ul><ul><li>Pfizer has the most to gain in Alzheimer’s disease. </li></ul><ul><li>Alzheimer’s disease market growth will reach $10 billion in seven major markets (US, Japan, France, Germany, Italy, Spain and UK) in 2017*. </li></ul><ul><li>The potential disease-slowing therapies bapineuzumabs (Elan/Wyeth) and Dimebon (Medivation/Pfizer) are expected to be the main drivers of growth in the Alzheimer’s market over the next five years. </li></ul><ul><li>The Pfizer-Wyeth combination would dominate the Alzheimer’s pipeline with a total of 15 candidates in development, but as many of these projects are novel, there is high risk of clinical trial failure. </li></ul><ul><li>* Source: Datamonitor </li></ul>Cont…
  6. 6. Benefits of Wyeth to Pfizer Opportunities in inflammation and vaccines <ul><li>The merger offers the opportunities to bring Pfizer’s Celebrex (celecoxib) and Wyeth/Amgen’s Enbrel (etanercept) into the same portfolio for the treatment of rheumatoid arthritis. </li></ul><ul><li>Celebrex has patent protection in the US until 2014 and Enbrel is due to lose US patent protection in 2011. </li></ul><ul><li>Enbrel may not face generic competition for some time after 2011 as the drug is a fusion protein and its approval was completed through a biologic license application (BLA) in US. </li></ul><ul><li>The regulatory pathway for biosimilars has yet to be approved in the US. </li></ul>Cont…
  7. 7. Benefits of Wyeth to Pfizer Opportunities in inflammation and vaccines <ul><li>The merger Pfizer-Wyeth pipelines also offer a dual biologic and smaller molecule approach to the next generation of rheumatoid arthritis therapies. </li></ul><ul><li>Wyeth is developing the fusion-protein TRU-015 in collaboration with Trubion Pharmaceuticals. </li></ul><ul><li>While Pfizer has focused on small molecule with the first-in-class Janus kinase – 3(JAK-3) inhibitor CP-690550. </li></ul><ul><li>Two other areas where Wyeth will significantly add to Pfizer’s portfolio are in infectious disease vaccines and in antibiotics. </li></ul>Cont…
  8. 8. Benefits of Wyeth to Pfizer Opportunities in inflammation and vaccines <ul><li>Pfizer will now become one of the leading vaccine manufacturers through accessing Wyeth’s vaccines portfolio. </li></ul><ul><li>Long neglected by drug companies as low-margins therapies, the vaccines market was transformed by the launch of Wyeth’s pneumococcal vaccine Prevnar in 2000. </li></ul><ul><li>Wyeth has focused heavily on Prevnar and Prevnar-13, to the detriment of its development pipeline, resulting in only its Phase II meningitis B vaccine (MnBrLP2086) showing significant market potential. </li></ul><ul><li>Both Pfizer and Wyeth have a strong presence in hospital antibiotics with revenues of $2.5billion in the seven major markets in 2007 from Zyvox (Pfizer’s linezolid), Tygacil (Wyeth tigecycline) and Zosyn. </li></ul>Cont…
  9. 9. Pfizer-Wyeth: Conclusion <ul><li>To counter the commercial threat posed by Lipitor’s looming patent expiry, Pfizer has once again ceded to the lure of increased scale via M&A activity, in many ways this has become the only means by which Pfizer can appease investors following its expansion over the past decade, driven by previous mergers with Warner-Lambert and Pharmacia. </li></ul><ul><li>The acquisition of Wyeth could well be the first in a number of new purchases as Pfizer remains weak in diabetes and schizophrenia and still lacks critical mass in oncology. </li></ul>

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