Pfizer is kicking off the new year with a couple of new drug approvals. FDA has approved Exubera, an inhalable insulin for the treatment of diabetes. Last month, Pfizer agreed to pay Sanofi-Aventis $1.3 billion for the full rights to Exubera, which is the first alternative to insulin injections. Merrill Lynch estimates Exubera will bring in $1.1 billion in annual sales by 2010. Pfizer also gained approval for Sutent, a small molecule that inhibits multiple tyrosine kinases. In an unusual move, FDA approved Sutent for two oncology indications: advanced kidney cancer and a rare stomach cancer.