Pfizer reaches agreement with Nektar on Exubera

Pfizer and Nektar Therapeutics have announced that their outstanding contractual issues, relating to Exubera and Nektar’s Next Generation Inhaled Insulin (NGI) product, have been resolved.

Now under a new agreement, Nektar will receive a one-time payment of $135 million from Pfizer provided that all remaining obligations under existing agreements connected to Exubera and NGI are met.

Pfizer has also agreed to transfer remaining rights and economic benefits for Exubera and NGI if a new partner is selected.

This transfer would include Exubera’s New Drug Application and Investigational New Drug Applications as well as all ex-US regulatory applications and ongoing Exubera clinical trials.

A joint statement was issued by Pfizer’s chairman and chief executive officer Jeffrey B Kindler and Howard W Robin, president and chief executive officer of Nektar.

They stated that the agreement demonstrated the industry leadership of Pfizer and the company’s desire to work with partners like Nektar.

“The agreement strengthens our relationship and demonstrates our ability to work together to craft a solution that allows Nektar the ability to pursue additional commercial opportunities for the Exubera and NGI inhaled insulin franchises,” they concluded.

This month, Pfizer also announced positive study results for Lipitor (atorvastatin calcium), detailing that administration of the compound in post-stroke or mini-stroke patients results in an improvement or stabilisation in liver function.