Key Developments: Pfizer Inc (PFE.N)
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Latest Key Developments (Source: Significant Developments)
Pfizer Inc May Join Amgen In Bidding For Onyx Pharmaceuticals Inc-Reuters
Reuters reported that Onyx Pharmaceuticals Inc whose cancer drugs promise a strong revenue stream, is attracting preliminary buyout interest from Pfizer Inc. Pfizer, which is due to pay Onyx royalties on a promising experimental breast cancer drug are among the parties interested in Onyx and its portfolio of marketed cancer treatments. Full Article
Bristol-Myers Squibb Co And Pfizer Inc Announce Results Of Six Month Phase 3 AMPLIFY Trial Of 5,395 Patients With Acute Venous Thromboembolism
Bristol-Myers Squibb Co and Pfizer Inc announced the results of the six month Phase 3 AMPLIFY trial of 5,395 patients with acute venous thromboembolism (VTE), which includes symptomatic deep vein thrombosis (DVT) and/or pulmonary embolism (PE). In this trial, Eliquis as a single-agent achieved the primary efficacy endpoint of noninferiority to current standard of care (initial parenteral enoxaparin treatment overlapped with warfarin therapy) in the reduction of the composite endpoint of recurrent symptomatic VTE or VTE-related death. Eliquis also met the primary safety endpoint of superiority for major bleeding, with a 69% relative risk reduction (RRR) compared to current standard of care. Importantly, AMPLIFY demonstrated comparable results for the primary efficacy and safety endpoints between patients entering the study with a DVT or a PE. The study results showed that apixaban, as a single-agent, has comparable efficacy with significantly fewer major bleeding events with respect to the standard of care. Full Article
Pfizer Inc Declares $0.24 Third Quarter 2013 Dividend
Pfizer Inc announced that it has declared a $0.24 third-quarter 2013 dividend on the Company's common stock, payable September 4, 2013, to shareholders of record at the close of business on August 2, 2013. Full Article
Pfizer Inc Announces Final Results Of Zoetis Inc's Exchange Offer
Pfizer Inc announced that the final results of offer to shareholders to exchange all, some or none of their shares of Pfizer common stock for shares of Zoetis Inc. common stock owned by Pfizer. The exchange offer expired at 12:00 midnight, New York City time, on June 21, 2013. Under the terms of the exchange offer, 0.9898 shares of Zoetis common stock were exchanged for each share of Pfizer common stock accepted in the exchange offer. Pfizer accepted 405,117,195 shares of common stock in exchange for the 400,985,000 shares of Zoetis common stock owned by Pfizer. Because the exchange offer was oversubscribed, Pfizer accepted tendered shares of Pfizer common stock on a pro rata basis in proportion to the total number of shares tendered. Shareholders who owned fewer than 100 shares of Pfizer common stock, or an odd-lot, who validly tendered all of their shares, were not subject to proration if they requested such preferential treatment in accordance with the terms of the exchange offer. J.P. Morgan Securities LLC, BofA Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley served as the dealer managers for the exchange offer. Full Article
Karo Bio AB Extends Research Collaboration with Pfizer Inc
Karo Bio AB announced the extension of its existing research collaboration with Pfizer Inc on RORgamma modulators to the end of 2014. Pfizer will continue to provide full funding for the research costs. The collaboration that started in December 2011, aims to discover and develop novel small molecule RORgamma modulators for the treatment of autoimmune diseases. Pfizer is responsible for all research costs of the project. Karo Bio is eligible to receive over USD 200 million in milestone payments in addition to any royalty fees. Full Article
PeptiDream Inc to Cancel Joint Development Contract with Pfizer Inc
PeptiDream Inc announced that it will cancel the joint development contract with Pfizer Inc, which was signed in December 2010. PeptiDream still owns the intellectual property rights in special peptide jointly developed by the two companies. Full Article
Pfizer Inc Lowers FY 2013 Guidance
Pfizer Inc announced that for fiscal 2013, it expects revenue to be in the range of $50.8 to 52.8 billion (previously $55.3 to $57.3 billion) and adjusted Diluted EPS to be in the range of $2.10 to $2.20 (previously $2.14 to $2.24). According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $55.68 billion and EPS of $2.21 for fiscal 2013. Full Article
Teva Pharmaceutical Industries Ltd and Sun Pharmaceutical Industries Ltd To Pay $2.15 Billion To Settle Pfizer Inc's and Partner Takeda Pharmaceutical Co Ltd's Patent Suit-Reuters
Reuters reported that Pfizer Inc said Teva Pharmaceuticals Industries Ltd and Sun Pharmaceutical Industries Ltd would pay $2.15 billion to settle a patent infringement lawsuit related to its acid-reflux drug Protonix. Takeda Pharmaceutical Co Ltd, Pfizer's partner on the drug, will receive 36% or about $774 million from the settlement. Full Article
Pfizer Inc Receives $2.15 Billion Settlement from Teva And Sun For Infringement Of Protonix Patent
Pfizer Inc. announced that a $2.15 billion settlement reached with Teva Pharmaceuticals Industries, Limited and Sun Pharmaceutical Industries, Limited for patent infringement damages resulting from their 'at-risk' launches of generic Protonix in the United States. The settlement comes after a nearly 10 year legal battle in which Pfizer and Nycomed (part of Takeda) sought to enforce the patent for its blockbuster acid reflux medicine. Pfizer and Takeda will divide the proceeds of the settlement with Pfizer receiving 64%. Under the terms of the settlement, Teva and Sun will pay a total of $2.15 billion to compensate Pfizer's subsidiary Wyeth and Takeda for the damages they suffered when Teva and Sun launched 'at-risk' generic versions of Protonix prior to the January 2011 expiry of the patent for pantoprazole, the active ingredient in Protonix. These 'at-risk' launches were determined by a jury in New Jersey federal court to violate United States Patent No. 4,758,579, which is owned by Takeda and was licensed exclusively to Wyeth in the United States. The parties reached the settlement shortly after the commencement of a trial to determine damages in the same New Jersey federal court. Full Article
Pfizer Inc Prices $4.0 Billion Debt Offering
Pfizer Inc announced the pricing of a debt offering consisting of five tranches of notes: $750,000,000 aggregate principal amount of 0.900% notes due 2017; $1,000,000,000 aggregate principal amount of 1.500% notes due 2018; $500,000,000 aggregate principal amount of floating rate notes due 2018; $1,000,000,000 aggregate principal amount of 3.000% notes due 2023; $750,000,000 aggregate principal amount of 4.300% notes due 2043. Pfizer intends to use the net offering proceeds for general corporate purposes, including the repayment at maturity of the EUR1.85 billion outstanding of its 3.625% notes due June 2013; and pre-funding the repayment of a portion of its outstanding 4.50% notes due February 2014 and 5.50% notes due February 2014. Pfizer may use funds that are not immediately needed for these purposes to temporarily invest in short-term marketable securities or repay a portion of its outstanding commercial paper. The closing of the offering is expected to occur on June 3, 2013, subject to satisfaction of customary closing conditions. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and RBS Securities Inc. are acting as joint book-running managers for the offering. Full Article
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