Pfizer (PFE)

Pfizer and Medivation announced results from two Phase 3 trials of the investigational drug dimebon (latrepirdine*) in patients with Alzheimer`s disease (AD). In the CONNECTION trial, dimebon did not meet its co-primary or secondary efficacy endpoints compared to placebo. Co-primary endpoints were measures of cognition and global function.
Dr. David Hung, president and chief executive officer of Medivation, described the results as "unexpected" and said they are "disappointed". That's not good. Pfizer is under a lot of pressure to replace sales from Lipitor, which goes off patent next year.

Mar 4 · 10:41:00 AM · Source: Reuters.com
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by Rich Pike