Due to the dangerous side effects associated with COX-2 inhibitors -- which
are part of a larger class of drugs known as nonsteroidal anti-inflammatory
drugs (NSAIDS) -- many of the nation's top drug makers, including
No. 1 drug maker Pfizer, are expected to take a hard blow in quarterly
revenue in 2005. In addition, investor enthusiasm for Pfizer has
certainly been softened due to both generic drug competition, as
well as the questionable safety of two of the maker's painkillers,
Celebrex and Bextra.
Pfizer Took a Turn for the Worst
For a while there, Pfizer was the "top dog" of painkiller
providers, as negative evidence continued to mount up against Merck's
Vioxx. And, when Vioxx was finally pulled from the market due to
heart attack and stroke concerns, quarterly revenue for Celebrex
and Bextra soared:
- Celebrex increased 24 percent to $1 billion
- Bextra increased 57 percent to $417 million
It seemed Pfizer's biggest concern at the time was how to
come up with new drugs to drive growth.
However, the victory was short-lived: Both Celebrex and Bextra
began receiving the same negative feedback Vioxx did due to links
to similar risks of heart attacks and strokes. As it sits, the fate
of Pfizer lies in the hands of the Food and Drug Administration's
(FDA) advisory panel, which is scheduled to hold a meeting to assess
the "safety" of older painkillers and the COX-2 inhibitors
that replaced them.
Pfizer is keeping both Celebrex and Bextra on the market, despite
the FDA's recommendations to doctors to consider restricting
their use.
USA
Today January 20, 2005
TheStreet.com
December 29, 2004
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