Biotech Values

[DewDiligence]

Pfizer CEO Eyes Biogenerics

http://www.reuters.com/article/marketsNews/idUKN0562810620080305

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Wed Mar 5, 2008 6:03pm EST

NEW YORK (Reuters) - Pfizer Inc (PFE) sees the emerging area of generic biotechnology medicines as an "opportunity" for the world's largest drug company, Chief Executive Officer Jeff Kindler said on Wednesday.

Pfizer has expressed its intent to become a major player in biotech drugs, which are more complicated to manufacture than traditional pills and often more expensive. However, the interest in lower-cost generic versions of such biotech drugs would separate it from most other brand-pharmaceutical makers [not from NVS, obviously].

"I do think that's an opportunity for us," Kindler said in response to a question during a 5-hour meeting with industry analysts and investors in New York.

U.S. regulators are weighing the creation of a pathway for generic versions of biotech drugs, which are generally derived from human proteins and therefore more complicated to duplicate than traditional chemicals.

But Kindler said he expected there will be a regulatory pathway and that Pfizer was well prepared to be involved.
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