Posted on 10/11/2008 in Pharmaceutical Company Financials Pfizer and Wuxi PharmaTech have announced a collaboration agreement.
The partnership of the companies is set to establish ADME assays to provide in vitro screening services on compounds.
Wuxi will then evaluate the SDME properties for Pfizer compounds, with the aim of providing information required to assist in the improvement of the pharmacokinetic properties of the compounds.
Dr Steve Yang, vice president and head of Asia research and development at Pfizer, said: "A high quality and flexible Asia R&D partnership network is critical to Pfizer's emerging market and Asia strategy."
"We want to build strong relationship with leading Contract Research Organisations such as Wuxi PharmaTech to tap into the scientific talents and R&D capabilities in Asia," he added.
The news follows Pfizer's announcement that it will not continue with the development programme for its phase III obesity compound (CP-945,598).
The company said its decision was based on the changing regulatory perspectives on the risk/benefit profile of the CB1 class, along with the likely new regulatory requirements for approval.
Based in New York, Pfizer reported revenues in 2007 of $48.4 billion (30.7 billion pounds), of which $8.1 billion were put into research and development.Other news stories from 10/11/2008
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