1. Pfizer is cutting Phase II pipeline candidates in cardiology and inflammatory diseases after its $43 billion acquisition of Seagen.
2. Temanogrel and APD418, obtained from the $6.7 billion purchase of Arena Pharmaceuticals, are among the discarded candidates.
3. Etrasimod remains the only mature Arena molecule in Pfizer's pipeline.
4. In December 2022, the FDA accepted etrasimod's New Drug Application for moderate-to-severely active ulcerative colitis.
5. Pfizer also discontinued the TNFSF15 protein blocker for ulcerative colitis and the CXCR2 antagonist RIST4721.
6. Aristea Therapeutics discontinued RIST4721 development due to safety concerns, resulting in the company's closure.
7. Pfizer reported a revenue of nearly $18.3 billion for Q1 2023, down 29% compared to the previous year.
8. The decline is mainly attributed to the drop in coronavirus-related sales, with non-COVID-19 product revenues growing by 5%.
9. Pfizer anticipates 7% to 9% operational growth for its non-COVID-19 revenues in 2023.
10. The company expects FDA approval for its respiratory syncytial virus vaccine candidate and expanded approval for prostate cancer drug Xtandi in 2023.