Drugmakers Hurt By Late-Stage Trials

Pfizer has dropped two compounds from its pipeline following lackluster results in Phase III clinical trials. Pfizer says both esreboxetine, tested to treat the pain condition fibromyalgia, and PD-332334, studied as a treatment for generalized anxiety disorder, are safe, but did not appear to work better than existing drugs. Pfizer says the decision will enable it to channel resources to more promising therapies. Separately, AstraZeneca and Map Pharmaceuticals say a Phase III study of unit-dose budesonide, an inhaled corticosteroid, failed to control asthma in children. Shares of Map lost more than 75% of their value after the disclosure.