Pfizer to launch new grants initiative for cardiovascular research

Pfizer has announced that it will be launching a new initiative allowing fellow pharmaceutical firms to compete for grants to help in its cardiovascular drug research.

Specifically, Pfizer wants experts to assist with the investigation of its PCSK9 treatment in assessing its effectiveness in treating cardiovascular disease.

Trials have shown inhibitors contained within the drug can potentially reduce people's cholesterol levels by as much as 60 percent, while additional phase III trials are currently taking place to assess the effectiveness of the inhibitor bococizumab in lowering cholesterol further and treating heart conditions.

To help with this, Pfizer is pledging grants worth up to $100,000 (68,537 pounds) to pharmaceutical experts that are willing to support its research, as part of its new annual funding programme, which is an extension of its Advancing Science through Pfizer Investigator Research Exchange initiative.

Multiple grants will be available in a bid to increase the firm's understanding of PCSK9's potential.