By Steven Turner
Last Update: 11:31 AM ET Nov 21, 2008
In February of 2007, shortly after Isis (ISIS) announced its multibillion dollar, collaboration with Genzyme (GENZ), a senior executive of Pfizer (PFE) was chided, asking how they could let rival Genzyme outbid them for the rights to Mipomersen. The Pfizer executive pointed out that the mode of delivery was the key factor in their decision.
This reluctance on Pfizer’s part was understandable in light of the disastrous multibillion-dollar loss with “the sure thing,” Nektar’s (NKTR) inhaled insulin product, which nobody wanted to buy. This fiasco was unfolding while Pfizer and 10 other pharmaceutical companies were engaged in a bidding war to acquire the rights to Mipomersen.
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