The Change Mariner

Pfizer's Pregabalin: $3 Billion Painkiller

WBBM (Chicago):

Now awaiting final approval from European regulators and the U.S. Food and Drug Administration, pregabalin is expected to generate sales of at least $3 billion a year for New York-based Pfizer.

Sales could reach $6 billion "within 10 years -- that isn't out of the question," says Heather Brilliant, a pharmaceuticals analyst at Chicago-based Morningstar Inc., a research and mutual fund rating firm. "It will definitely exceed $3 billion in the near term." A Pfizer spokeswoman declined comment while the drug is awaiting approval, which analysts say could come by fall in the U.S., perhaps earlier in Europe.

As the patent holder, Northwestern will collect 6% of revenues, of which Mr. [Richard] Silverman will get a 25% cut after deducting the university's legal costs in securing several patents to protect his discovery. In other words, he'll collect $15 million for every $1 billion in sales -- before taxes, that is.

He plans to share some of the proceeds with a postdoctoral researcher from Poland who helped with the discovery, as well as giving some to the university, family and friends.

Posted by Bob King at March 21, 2004 01:37 PM | TrackBack
Related Categories: Industry - Healthcare | Industry - Pharmaceutical/Biotech | Quadrant - Technological | Theme - 'The Biotech Century'

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