Biotech Values

[mcbio]

As part of the cost-cutting maneuvers announced today, PFE will phase out drug development in allergy, respiratory, urology, tissue repair, and internal medicine.

Interesting. This news probably then spells an end to PFE's partnership with RIGL for R343, the inhaled Syk inhibitor in Phase 2 for asthma. But, I'm not sure such news would have a big effect on RIGL since the stock is already relatively beaten down IMO and the key story for RIGL is of course fostamatinib in Phase 3.