Pfizer to purchase Encysive Pharmaceuticals

Pharmaceutical giant Pfizer has entered into an agreement to acquire Encysive Pharmaceuticals.

The company it has agreed to purchase is behind THELIN, a treatment for pulmonary arterial hypertension (PAH) which is commercially available across much of Europe.

Pfizer plans a further trial of the drug in support of its registration in America.

Martin Mackay, PhD, president of Pfizer Global Research, said the acquisition highlights the drug company’s commitment to pursuing science both in and outside of its own laboratories.

“With this agreement, we will gain an important marketed product in PAH and will have the opportunity to complete the development of this new medicine to treat this devastating disease,” he added.

Last month, Pfizer announced its fourth-quarter profits for last year rose to $13.1 billion, compared to $12.6 billion during the previous year.

Its full-year revenue rose to $48.6 billion, compared to $48.4 billion during 2006.