Exubera Fiasco: What Went Wrong? |
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"This is one of the most stunning failures in the history of the pharmaceutical industry." 1 - Mike Krensavage, Analyst, Raymond James & Associates2, in 2007. "We faced the combination of breaking through the barrier of conventional insulin therapy and the burden of the product on the medical practices, and this innovation [Exubera] was not accepted"U3 - Vanessa Aristide, Pfizer's Spokeswoman. in 2007.
It said that it had taken the decision to withdraw the drug as very few patients were taking it and its sales were abysmally low compared to initial forecasts. "We made an important decision regarding Exubera, a product for which we initially had high expectations. Despite our best efforts, Exubera has failed to gain the acceptance of patients and physicians,"6 said Jeff Kindler, Pfizer's CEO. It later returned the rights of Exubera to its developer Nektar Therapeutics Inc.7 (Nektar). Pfizer's Exubera Strategy Questioned - Next Page>> 1] Avery Johnson, "Insulin Flop Costs Pfizer $2.8 Billion," http://online.wsj.com, October 19, 2007. |
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