UPDATE 1-Pfizer R&D projects move faster than it projected

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NEW YORK, Sept 30 (Reuters) - Pfizer Inc (PFE.N) unveiled more advanced research programs on Tuesday than it previously projected as the drugmaker focuses on products to treat cancer and Alzheimer's disease to counter looming patent expirations.

Thirty-one research programs advanced to the next stage of development over the past six months, the world's largest drugmaker said in a press release. It also discontinued development of 13 research projects, including a late-stage treatment for melanoma.

Pfizer said in a memo last week it was ending efforts to develop medicines for heart disease, obesity and bone health, among other conditions, as it focuses on cancer and five other therapeutic areas.

New York-based Pfizer has struggled to come up with new medicines to replace blockbuster drugs that have lost or will lose patent protection, such as its hypertension drug Norvasc. Lipitor, Pfizer's biggest selling product, will see its sales plummet after it loses its U.S. patent protection in 2011.

Pfizer has identified six "high-potential" disease areas for research: oncology, pain, inflammation, diabetes, Alzheimer's disease and schizophrenia. Most of the research advancements were in these areas.

Pfizer boosted the number of projects in late-stage, or Phase 3, clinical trials to 25 from 16 over the past six months.

In some cases, those include multiple studies for single products. For example, five of Phase 3 trials involve Sutent, a drug already approved for certain cancers. The Phase 3 programs involve eight new drugs that have not yet been approved.

In March, Pfizer announced the goal to grow its Phase 3 pipeline to at least 24 projects, and as many as 28, by December 2009.

"Pfizer's pipeline acceleration is ahead of projections given to investors in March 2008," the company said in the release.

The drugmaker still is targeting submitting 15 to 20 applications to regulators between 2010 and 2012.

Pfizer shares were up 18 cents, or 1 percent, at $17.83 in morning trading on the New York Stock Exchange. (Reporting by Lewis Krauskopf, editing by Maureen Bavdek)