Pfizer achieved its goal of reducing R&D expenses -- by an estimated $800 M in 2013. Their curent spend of $6.6 B is almost $2.8 B below its peak established in 2010. But they had only 1 midling new drugs last year, and the new drugs that were approved in 2012 have not as yet resulted in big revenues. Yesterday, Pfizer reported that is touted drug, dacomitinib, failed in two phase III trials for lung cancer.
It has other drugs in the pipeline that may yet pan out but there are no sure signs of success as yet. Which leads us to a variation of the age old question, "If R&D falls in Pfizer does is still make a drug?" See Fierce Biotech.
Posted by Bruce Lehr Jan 28th 2014.