Pfizer signs up to $511 million deal for Lpath's AMD treatment and $134 million accord for Phylogica's for peptide-based vaccines

21 December 2010

US drug behemoth Pfizer (NYSE: PFE) - which just a couple of weeks ago dumped its chief executive Jeff Kindler (The Pharma Letter December 6) - went on something of a spending spree yesterday, revealing two multi-billion licensing deals, one with San Diego, USA-based Lpath (OTC.BB: LPTN) and the other with Australian biotechnology firm Phylogica (ASX: PYC), with the aim of boosting its R&D pipeline that has seen a number of recent failures and is facing impending patent expiries including that of its top-selling ever drug, the cholesterol lowerer Lipitor (atorvastatin).

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