CEO Jeff Kindler
CEO Jeff Kindler has been the chief executive officer of Pfizer Inc since 2006. He is 51 years old. Follow Mr. Kindler and Pfizer Inc in the news and blogs or share your own opinion about the company and its leadership.
New Chantix Safety Concerns Rock Pfizer
Could the recent saftey concerns mean more Chantix Lawsuits?
New safety concerns for Pfizer Inc.'s (PFE) smoking- cessation drug could hurt the already stumbling sales acceleration of Chantix and lead to legal trouble for the New York pharmaceutical giant.
A report Wednesday from a watchdog group suggested Chantix may be linked to problems such as heart trouble, seizures and diabetes, adding to the already- known connection to psychiatric problems including suicide and depression. The news adds to the pile of misery in recent years resulting from research and development frustration, a relatively thin pipeline and looming generic competition for its top seller.
"It has been a litany of bad news for Pfizer," said Les Funtleyder, an analyst with Miller Tabak. "This is worse news than we would have supposed, but we weren't exactly positive on (Chantix) anyway."
Pfizer has twice updated the Chantix label for potential side effects since its May 2006 approval. The Food and Drug Administration said in February that it is "increasingly likely" Chantix may be tied to serious psychiatric symptoms.
In late 2006, Pfizer halted development of its highly anticipated cholesterol drug, torcetrapib, and a year later stopped marketing its inhaled insulin product Exubera because of poor demand. Furthermore, its biggest seller, cholesterol drug Lipitor, which brought in more than a quarter of its $11.85 billion in first-quarter revenue, could see generic competition as early as 2010.
New safety concerns for Pfizer Inc.'s (PFE) smoking- cessation drug could hurt the already stumbling sales acceleration of Chantix and lead to legal trouble for the New York pharmaceutical giant.
A report Wednesday from a watchdog group suggested Chantix may be linked to problems such as heart trouble, seizures and diabetes, adding to the already- known connection to psychiatric problems including suicide and depression. The news adds to the pile of misery in recent years resulting from research and development frustration, a relatively thin pipeline and looming generic competition for its top seller.
"It has been a litany of bad news for Pfizer," said Les Funtleyder, an analyst with Miller Tabak. "This is worse news than we would have supposed, but we weren't exactly positive on (Chantix) anyway."
Pfizer has twice updated the Chantix label for potential side effects since its May 2006 approval. The Food and Drug Administration said in February that it is "increasingly likely" Chantix may be tied to serious psychiatric symptoms.
In late 2006, Pfizer halted development of its highly anticipated cholesterol drug, torcetrapib, and a year later stopped marketing its inhaled insulin product Exubera because of poor demand. Furthermore, its biggest seller, cholesterol drug Lipitor, which brought in more than a quarter of its $11.85 billion in first-quarter revenue, could see generic competition as early as 2010.
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