In a Rare Move, Pfizer Admits Exubera Was a Mistake

The company had this to say today in its earnings press release:

“We remain convinced that Exubera offers substantial benefit for diabetic patients worldwide, we are disappointed with the product’s performance to date.”

That’s as close as Pfizer ever gets to saying “we screwed up.”

Merrill Lynch analyst David Risinger, in yet another of his classic understatements, said, “Management is commenting more cautiously about Exubera in its press release. … Pfizer still plans to do DTC (direct to consumer) advertising for Exubera starting in mid-summer, which we believe will backfire.  We think that since the medical community appears to have limited interest in Exubera, a DTC push could face serious headwind.”

Read this for the history of how Pfizer basically managed to turn $1.4 billion into bong smoke.

Comments

[Dr. Black Kitty]

Maybe Pfizer should go into the bong business. They can make a THC type drug and use the Exubera dispenser as the delivery mechanism. They can paint it green and market it to young people 13 to 25. Lets see, maybe for "teenage angst disorder - TAD." That way, their product failure will not be a total loss :)

Love and Peace,

BK

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