US Pfizer ends research into new Alzheimer's, Parkinson's drugs

03:25  09 january  2018
03:25  09 january  2018 Source:   The Hill

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Pfizer Is Ending Research Into New Drugs for Alzheimer ' s and Parkinson ' s Diseases. Pfizer (pfe) is abandoning research to find new drugs aimed at treating Alzheimer ’ s and Parkinson ’ s disease, the U.S. pharmaceutical company announced on Saturday.

NEW YORK - Pfizer Inc is abandoning research to find new drugs aimed at treating Alzheimer ’ s and Parkinson ’ s disease, the US pharmaceutical company announced on Saturday. The company said it expects to eliminate 300 positions from the neuroscience discovery and early development programs

  Pfizer ends research into new Alzheimer's, Parkinson's drugs © Provided by The Hill Drug giant Pfizer will end research into new neuroscience drugs, including those for Alzheimer's disease and Parkinson's disease, the company announced this weekend.

That decision followed an internal review and will result in about 300 jobs cut, the company said.

"This was an exercise to reallocate [spending] across our portfolio, to focus on those areas where our pipeline, and our scientific expertise, is strongest," Pfizer said in a statement.

Pfizer said it will continue its support of a late-stage pain treatment drug, tanezumab, and Lyrica, a drug for fibromyalgia.

It will also continue research into neurological drugs for rare diseases.

Pfizer also said it will start a venture fund committed to neuroscience.

The company had invested heavily in discovering new drugs for Alzheimer's and Parkinson's, but those efforts were costly and didn't produce results.

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