PharmaTelevision - Pfizer’s Out-licensing Opportunities

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Video title: Pfizer’s Out-licensing Opportunities

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In 2008 Pfizer refined their R&D strategy and decided to decrease the number of therapeutic areas that their teams were focusing on. The result of this decision is that the company now has approximately 100 molecules that they are looking to out-license. David Rosen, Head of Out-licensing, joined Fintan Walton at BIO 2009 to talk about his team’s activities. He explains that this is the first time that Pfizer has actively looked to out-license and how they are looking to maximise value for Pfizer now and in the future.

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Outlicensing of Pfizer

Fintan Walton:

Hello and welcome, we are here at Bio 2009 at the Annual Convention here in Atlanta. We are here to record a series of programs with leading pharmaceutical and biotechnology companies to talk about the both their vision and what they are doing to build their organizations in tough economic times. Hello and welcome to PharmaVentures business review here at Bio in Atlanta. On this show I have David Rosen who is Head of Out-Licensing at Pfizer. Welcome to the show.

David Rosen:

Thank you.

Fintan Walton:

David, you are based in Pfizer in New York and you are responsible for Out Licensing at Pfizer. Why is Pfizer out Licensing?

David Rosen:

Well, I think you know that last year we've made announcement that we were going to refine our R&D strategy and we were going to reduce the number of therapeutic areas that we were doing research and development in. you know we believe that in these areas where we've decided to exit that there are still some great molecules and probably some great drugs and we'd like to get those drugs to market if indeed they are capable of getting there. We'd also like to recover some of the value in those molecules at the same time if we can.

Fintan Walton:

Okay, so the, when we talk about these candidates, these molecules we are now outside your core strategy, are we talking about early stage or mid stage, late stage, what type of products we're talking about?

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David Rosen

Head of Out Licensing Pfizer

Dr. David Rosen is currently the head of out licensing at Pfizer Inc. In his role, Dr. David Rosen is responsible for the externalization and partnering of non-progressing research and development programs that are no longer strategic to Pfizer. He joined Pfizer in 2003 as the head of Strategic Alliances in St. Louis, Missouri and during his 15 year career in business development has had increasing levels of responsibility in both large pharma and the biotechnology industry. He recently completed the divestiture of Pfizer's research assets in Nagoya, Japan resulting in the creation of a new life sciences company. Prior to joining the pharmaceutical industry, Dr. David Rosen was a practicing veterinarian and practice owner. Dr. David Rosen received a Bachelor's degree in Bacteriology from the University of Wisconsin in Madison and a Doctor of Veterinary Medicine Degree from Iowa State University. He received a specialty Board Certification in feline medicine in 1998.

Pfizer

Pfizer is the world's largest research based biomedical and pharmaceutical company, in 2007 the company earned $448.4 billion in revenues and invested $8.1 billion in research and development. It's headquarters are located in New York with research and development faculties based in the US and in the UK. Pfizer produces the number-one selling drug Lipitor; the neuropathic pain/fibromyalgia drug Lyrica; the oral antifungal medication Diflucan, the long-acting antibiotic Zithromax, the well-known erectile dysfunction drug Viagra, and the anti-inflammatoryCelebrex. Recent innovations include Sutent a novel cancer medicine that both cuts off the blood supply that feeds tumors and destroys cellular reproduction, and Chantix a new prescription medicine and accompanying support plan designed specifically to help smokers quit.