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Pfizer R&D Chief: Seeking Partnerships In Biotech, VaccinesLast update: 1/13/2009 1:37:48 PM
By Peter Loftus
Of DOW JONES NEWSWIRES
Pfizer Inc. (PFE) is interested in partnerships with other companies that will help build its pipeline of biotechnology drugs, vaccines and regenerative medicine, the drug giant's head of research said Tuesday. Pfizer, which has struggled with generic competition and setbacks in bringing new drugs to market, is trying to beef up its research pipeline as part of a broader effort to turn its business around. Martin MacKay, who became head of research and development in late 2007, pitched Pfizer as a potential partner in a speech before biotech and pharmaceutical executives gathered at the J.P. Morgan health-care conference in San Francisco Tuesday. He said Pfizer was interested in "platform technologies," which typically means proprietary science that can be harnessed to develop multiple drugs across various disease areas, not merely a single experimental drug. Pfizer is on the prowl for more biotechnology-style drugs, MacKay said, which many big drug makers believe represent a bigger sales and profit growth opportunity than traditional pharmaceutical pills. Also, Pfizer is in search of deals to expand its efforts in therapeutic vaccines, or vaccines that can treat existing diseases. For example, Pfizer has licensed from Avant Immunotherapeutics Inc. (AVAN) a vaccine designed to treat a form of brain cancer.