Pfizer Inc. (NYSE:PFE)’s Lyrica Fails; Company Seeking New Vaccines

Pfizer Inc. (NYSE:PFE) failed to find a cure to pain as its drug Lyrica returned negative study results. The drug under post-marketing study that aimed to test its effectiveness for fibromyalgia in adolescents showed little significant improvement versus placebo. The trial was undertaken to meet the requirements of the U.S. Food and Drug Administration that had approved Lyrica for fibromyalgia.

Let this analyst breakdown the obvious technical-indicators for PFE.

Flunked the test

The disease is a chronic disorder that is characterized by musculoskeletal fatigue, pain and tenderness in localized areas. Currently, Lyrica is approved for a range of indication in 139 countries and regions and is chemically known as pregabalin. It is marketed in the United States for five indications of neuropathic pain mostly associated with diabetic peripheral neuropathy, post-herpetic neuralgia, spinal cord injuries and during partial onset of seizures in epilepsy patients. The specific source of fibromyalgia is not yet known, but it affects as many as 6 million Americans.

In the search of new vaccines

Learning from the recent experiences, Pfizer Inc. (NYSE:PFE) is said to be seeking new vaccines that could cater to a broader spectrum of patients, age wise. The company reliant on its blockbuster Prevnar, has realized that it is high time to scale up its portfolio through both in-house developments and looking out for potential acquisitions. Also, the company wants to address the treatment of patients in all age groups, right from infants to young adults to elders.

The company had bought Baxter International Inc. (NYSE:BAX)‘s marketed vaccines portfolio in December in exchange of $635 million and is open to more such deals in the future. Susan Silbermann, head of Pfizer Inc. (NYSE:PFE) Vaccines said that the company would not mind taking home more external opportunities as it already brings new products to its current portfolio. Amid the latest developments, the share price of the company inched up by 1.10% to $34 during the last trading session.

About the Author

Erica is a graduate of New York University's school of Journalism. She joined US Markets Daily as a general assignment reporter in January of 2008.

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