Pfizer's Heart Failure Flop
Inspra, a medicine for heart failure, is one of the biggest disappointments to come out of the $60 billion purchase of Pharmacia by drug titan Pfizer. Before the merger in 2002, analysts had been forecasting that Inspra could become a billion-dollar pill. Instead, sales in the second quarter of this year were a tiny $1 million. In a transcript of the New York-based firm's first-quarter conference call, Morgan Stanley analyst Jami Rubin summed it up: "It seems like Inspra is a big flop."