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Home Industry News Pfizer CEO sees Celebrex on the up and little challenge from GlaxoSmithKline

Pfizer CEO sees Celebrex on the up and little challenge from GlaxoSmithKline

8th November 2005

Pfizer chief executive officer Hank McKinnell has said he expects sales of the company’s Celebrex arthritis drug to rise sharply despite recent poor sales following safety concerns and legal challenges involving MSD’s (Merck Sharp & Dohme) Vioxx.

Celebrex and Vioxx are in the same class of drugs. Vioxx was linked to heart attacks and strokes, but two recent high profile court cases have cleared MSD of any liability.

Sales of Celebrex fell 44 per cent to $446 million in the third-quarter of 2005.

“With (new) information now on the label and with additional clinical results that will be available over the next year or two, I don’t doubt for a minute Celebrex will be a far bigger drug than it is today,” Mr McKinnell told Reuters.

He added that together with improved sales of Celebrex and the company’s impotence drug Viagra, Pfizer is counting on a number of experimental drugs to help drive profit growth.

These include a new drug that raises the body’s level of heart-protective HDL cholesterol, known as Torcetrapib.

He added that Pfizer intends to seek marketing approval for its smoking cessation treatment Varenicline, which Mr McKinnel tips as more successful than GlaxoSmithKline alternative Zyban.

“Our drug looks like it can take the quit rate up to 50 per cent,” Mr McKinnell said.

Third quarter revenue for the company stood at $12.189 billion, with a net income of $1.589 billion.

track© Adfero Ltd

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