Pfizer Discloses Early-Stage Drug Development Plans

Pfizer Inc. on Friday disclosed a plethora of early-stage experimental drugs that it hopes will make it the world’s premiere pharmaceutical company by the next decade.

Pfizer said that although the fate of such early-stage drugs was always uncertain, they held promise against such key therapeutic areas as cancer, osteoporosis, diabetes and strokes.

Chief Executive William Steere said eight products further along in the drug pipeline could be launched in the next three years.

In a meeting with Wall Street analysts, executives of the New York-based company said sales of its anti-impotence blockbuster Viagra had “plateaued” in the United States after the drug’s spectacular April launch, but remained strong.

They also disclosed that priapism, or persistent erection, had been seen in a small number of Viagra patients and that a warning about that possible risk will be added to the pill’s package insert.

Pfizer said several of its most promising early-stage compounds were cancer drugs being developed in collaboration with OSI Pharmaceuticals Inc., whose stock soared $1.63 to close at $5.13 Friday.

George Milne, president of research, said several of the cancer drugs are anti-angiogenesis compounds, meaning they prevent formation of blood vessels needed by tumors to obtain nutrients.

The company said it was also nearing the end of Phase II trials on the drug Ezlopitant to reduce nausea and other side effects from chemotherapy.

Milne said Pfizer was researching three promising obesity compounds, including an appetite suppressant derived from a South African plant.

For treating post-menopausal women, Pfizer has two so-called Selective Estrogen Receptor Modulators in late Phase II trials.

Hambrecht & Quist analyst Corey Davis said he was surprised Pfizer gave such a detailed view of its early-stage lineup.

“It looks like Pfizer is determined to broaden its reputation to show that they are not just a Viagra company. Cancer in general is becoming one of the very hottest therapeutic areas, and Pfizer wanted to show they’ll be a major player,” Davis said.

Pfizer rose $1.50 to close at $108.88 on the New York Stock Exchange.