Pfizer reports 3Q13 earnings, partners tanezumab with Lilly

Pfizer Inc. (NYSE:PFE) disclosed in its 3Q13 earnings on Tuesday that it partnered with Eli Lilly and Co. (NYSE:LLY) to jointly develop and commercialize worldwide Pfizer's tanezumab ( PF-4383119). The humanized mAb against nerve growth factor (NGF) has completed Phase II testing but is on a partial clinical hold. In December 2012, FDA placed a hold on NGF inhibitors including tanezumab based on peripheral nervous system effects in animal studies. Pfizer said it plans to submit nonclinical data for tanezumab to FDA next half and to start a Phase III trial next year if FDA removes the hold on the compound. The pharma said the partners will equally share expenses and potential revenues and will develop tanezumab for osteoarthritis and chronic low back and cancer pain. Pfizer will receive an undisclosed upfront payment, contingent upon the partners continuing the deal after FDA responds to the nonclinical data. The pharma is also eligible for undisclosed milestones. ...