Issue Date: November 19, 2007
Pfizer, Nektar Make Peace Over Exubera
Nektar Therapeutics will receive a one-time $135 million payment from Pfizer to settle the companies' differences over the inhaled insulin product Exubera. Pfizer decided to discontinue sales of Exubera last month because the drug had failed to make any headway in the diabetes market. The move led to friction between the partners, since Pfizer didn't notify Nektar of its decision to withdraw Exubera. Nektar subsequently accused the drug major of not putting enough marketing muscle behind the product. Under the settlement, Nektar will regain rights to both Exubera and a next-generation inhaled insulin product that is in Phase I studies should a new partner emerge for either product. The companies are still jointly developing a PEGylated human growth hormone therapy.
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