Pfizer provides biosimilar details, beats the Street in 2Q
Pfizer Inc. (NYSE:PFE) disclosed details of its pipeline of five biosimilars during a conference call with analysts to discuss 2Q14 financial results. This half, the pharma expects to start Phase III testing of biosimilars of autoimmune drugs Remicade infliximab and Rituxan rituximab, while a biosimilar of cancer drug Avastin bevacizumab is expected to start Phase I testing. Data from a Phase I trial of a biosimilar of autoimmune drug Humira adalimumab are expected in mid-2014 and a biosimilar of breast cancer drug Herceptin trastuzumab is in Phase III testing. Pfizer expects all of the biosimilars to reach the market in 2017-18.
Although unsuccessful in a bid to acquire AstraZeneca plc (LSE;AZN; NYSE:AZN) during the quarter, Pfizer CEO Ian Read also confirmed on the call that the pharma is continuing to look at a wide spectrum of M&A transactions, adding that tax inversion is "one part of the value equation." ...