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Arena Pharmaceuticals, Inc. (ARNA)
check this link out. Good news for
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Monday, July 23, 2012 8:21:35 PM
check this link out. Good news for Arena. I can see a better chance for a buyout. They will want a new drug worth multi billions in there pipeline.
Pfizer Says Alzheimer's Drug Study Fails to Reach Goa
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Today : Monday 23 July 2012
Pfizer Inc. (PFE) said its bapineuzumab, a highly anticipated potential treatment for Alzheimer's disease, failed to reach its set goals in its first of four Phase 3 studies.
Drug makers including Pfizer, Johnson & Johnson (JNJ) and Eli Lilly & Co. (LLY) are spending millions to find the first treatment to address the underlying mechanisms of Alzheimer's, a form of dementia that progressively robs patients of their memories and affects their thinking and behavior.
Pfizer, which partnered with Janssen Alzheimer Immunotherapy R&D LLC to develop an Alzheimer's drug, said all other ongoing bapineuzumab studies are continuing without changes.
Other study results should be reported later this summer, Pfizer said.
The company said it was disappointed with the results, but added that a more complete understanding of its drug and its potential in patients with mild-to-moderate Alzheimer's will come from the additional studies.
Pfizer in May reported that its first-quarter earnings fell 19% during the first full quarter since its blockbuster cholesterol drug Lipitor lost market exclusivity last year. The company is expected to report its second-quarter financial results on July 31.
Pfizer's shares slipped 0.6% after hours to $23.46, while smaller rival Eli Lilly's fell 1.9% to $43. J&J was down 0.5% at $67.77.
-Write to Ben Fox Rubin at email@example.com
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