Pfizer acquires rights to new PAH drug

Pfizer has purchased the rights to a new pulmonary arterial hypertension (PAH) drug which is currently being developed by fellow pharmaceutical company Ergonex.

The terguride treatment, which is currently involved in phase II testing, is a serotonin receptor antagonist which has already been granted orphan drug status in both the EU and US.

As part of the deal, Pfizer will support Ergonex in the completion of its current clinical trials before gaining exclusive worldwide marketing rights to the drug.

Geno Germano, president of Pfizer’s specialty care business unit, expressed confidence that the drug will advance the science behind the treatment of PAH, which is currently incurable.

He added: “Pfizer’s unique business unit structure positions us to advance a broad portfolio of innovative research programs designed to lead to a diversity of products, including highly specialized ones in disease areas like PAH.”

Earlier this month, Pfizer published its financial report for the first quarter of 2010, a period which saw the company make significant year-on-year gains thanks to its recent merger with Wyeth.