Analysis: Big Pharmas Including Pfizer Inc. and Rigel Pharmaceuticals, Inc., Ditching Biotech Deals

In the first two weeks of this month, pharma firms dissolved four partnerships with biotech companies, continuing a trend that's been troubling the industry. Pfizer Inc. and Rigel Pharmaceuticals Inc. terminated an agreement for R343, an inhaled Syk inhibitor for allergic asthma. AstraZeneca plc decided not to exercise its option to license TC-5619, developed by Targacept Inc. Ditto for Critical Outcome Technologies Inc. and Metabolex Inc., which saw their partnerships with big pharmas evaporate this month.