Unpromising projects
Pfizer cuts costs of developing drugs for Alzheimer's and Parkinson's diseases
Anna Kerman, XX2 century, according to Reuters: Pfizer ends research for new Alzheimer's, Parkinson's drugs
Pharmaceutical Company Pfizer Inc. She refused to continue a number of projects aimed at creating new drugs for the treatment of Alzheimer's disease and Parkinson's disease. This is reported in the company's statement published on Saturday.
The document also reports that the concern plans to reduce 300 rates of specialists engaged in neuroscience and preclinical drug research. Jobs will be cut in Andover, Cambridge and Groton, as funds previously allocated for employee salaries will now be redistributed and spent on other projects.
Pfizer has no plans to change anything in the development program of the drug tanezumab, considered as a remedy for the treatment of joint pain in osteoarthritis. The Lyrica drug research program will not be adjusted either as medicines to combat fibromyalgia, as well as a program to combat rare (orphan) diseases.
"This has become an exercise in changing our portfolio so that we can focus on our core areas of work, areas in which our scientific expertise is strongest," the statement said.
Pfizer has previously invested heavily in research dedicated to the fight against Alzheimer's disease and Parkinson's disease. Along with pharmaceutical giants GlaxoSmithKline plc and Eli Lilly and Company, Pfizer is a member of the Dementia Discovery Fund, a venture fund formed in 2015. through the joint efforts of industry representatives and the American government interested in developing a drug for the treatment of Alzheimer's disease.
However, some of Pfizer's investments in this area have turned into disappointment. In 2012, the concern, together with partner company Johnson & Johnson, stopped refining the drug bapineuzumab after it demonstrated disappointing results in the second phase of clinical trials. The drug was tried to be used for the treatment of patients suffering from mild and moderate Alzheimer's disease.
In a statement on Saturday, the company also announced that Pfizer plans to establish a new venture fund, the purpose of which will be investments in research projects in the field of neuroscience.
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