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In its ongoing struggle to re-invent itself, Pfizer’s going to announce today that it’s cutting R&D staff and largely getting out of the business of making new medicines for heart disease, the WSJ reports. It’s also largely bailing on research in anemia, osteoporosis, liver disease, muscle disease, obesity, and peripheral artery disease, Forbes reports, citing a memo from Pfizer R&D chief Martin Mackay. Instead, Forbes says, the company will focus on five therapeutic areas: Alzheimer’s; diabetes; immune disorders and inflammation; cancer; pain; and mental illness, including schizophrenia. Pfizer’s shift parallels that of the industry as a whole. For years, the company relied heavily on medicines for heart disease — notably the blood pressure blockbuster Norvasc and the cholesterol medicine Lipitor, the biggest selling drug... [read full story]
