Pfizer quits cholesterol sector seeking profit

Global drug giant Pfizer is to cease development of drugs in its traditional focus areas, such as high-cholesterol and hypertension, in order to concentrate on more lucrative fields like oncology.

According to an internal memo by R&D head Martin Mackay, which was obtained by the journal Forbes, Pfizer will exit eight disease areas, including: anemia; bone disease; liver disease; muscle disease; obesity; arthritis; and peripheral artery disease. Instead, the drug behemoth will concentrate on developing treatments for five highly profitable areas: Alzheimer's disease; diabetes; immune disorders and inflammation; cancer; pain; and mental illness. The memo noted that the firm will also continue R&D for areas such as lung disease, addiction, blood clots, transplant rejection and urology, as well as any products in late-stage development.