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Pfizer Inc. (PFE) (JOBS) Ends Development of Obesity Drug


11/6/2008 7:21:30 AM

NEW YORK--(BUSINESS WIRE)--Pfizer, Inc announced today that it is terminating the phase 3 development program for its investigational compound (CP-945,598) for weight management. CP-945,598 is a selective antagonist of the cannabinoid type 1 (CB1) receptor. Based on all currently available information and an ongoing review of the phase 3 program by an independent Data Monitoring Committee, Pfizer believes that the CP-945,598 compound has the potential to be a safe and effective treatment for weight management. However, the Company has decided to discontinue the development program based on changing regulatory perspectives on the risk/benefit profile of the CB1 class and likely new regulatory requirements for approval.

“While confident in the safety of the compound, we believe that this is the appropriate decision based on all available information regarding this class of agents, as well as recent discussions with regulatory authorities,” said Martin Mackay, president, Pfizer Global Research and Development. “As part of our ongoing portfolio prioritization, we will refocus research and development resources on high priority therapeutic areas that address an unmet medical need and have a high probability for success.”

Contact:

Pfizer, Inc Media: Kristen Neese, 646-299-2526 or Investor: Suzanne Harnett, 212-733-8009

Source: Pfizer, Inc

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Obesity

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