TITLE

Pact termination nets Consort $21.6 million

AUTHOR(S)
McNulty, Mike
PUB. DATE
March 2008
SOURCE
Rubber & Plastics News;3/10/2008, Vol. 37 Issue 16, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Consort Medical PLC will be reimbursed about $21.6 million from Nektar Therapeutics following the termination of its Exubera inhaler manufacturing and supply contract with Nektar. A spokesman said that Nektar owned the intellectual property behind Exubera, which Pfizer Inc. commercialized. The company plans to use the payment from Nektar to cover a significant portion of the costs associated with its restructuring.
ACCESSION #
31388253

 

Related Articles

  • Device makers wait to exhale after Pfizer abandons Exubera. Renstrom, Roger // Plastics News;11/5/2007, Vol. 19 Issue 36, p3 

    The article reports that Pfizer Inc.'s discontinuation of its Exubera insulin powder will affect inhalable-insulin-device production. The production will be affected at West Pharmaceutical Services Inc. in Tempe, Arizona, and Consort Medical PLC in Milton Keynes, England. Pfizer said on October...

  • Pfizer to pay Nektar $135 million fee for abandoning Exubera. Ford, Omar // Medical Device Daily;11/14/2007, Vol. 11 Issue 219, p2 

    The article reports on the payment that will be given by Pfizer to Nektar Therapeutics for abandoning Exubera, an inhaled insulin launched in the U.S. Low sales is one factor cited by Pfizer for the making the move. A total of $135 million will be paid to Nektar to resolve the remaining...

  • Hard-Pressed Pfizer Dropping Exubera; Nektar Shares Slump. Osborne, Randall // BioWorld Today;10/19/2007, Vol. 18 Issue 204, p1 

    The article reports on the impact of the low sales of Exubera, a dry powder human insulin, by Pfizer Inc. on the shares of partner Nektar Therapeutics Inc. Pfizer has decided to stop the production of Exubera due to several problems. Tim Warner, vice president of investor relations and corporate...

  • Nektar, West Pharma hit hard as Pfizer scuttles Exubera insulin. Long, Don // Medical Device Daily;10/22/2007, Vol. 11 Issue 202, p1 

    The article reports that Pfizer has abandoned all further efforts to manufacture and market Exuber, the first-ever inhaled insulin developed by Nektar Therapeutics. Pfizer's decision resulted to a $2.8 billion charge, including a write-off of $661 of Exubera inventory. The move is attributed to...

  • Hard-Pressed Pfizer Dropping Exubera.  // Bioworld Week;10/22/2007, Vol. 15 Issue 43, p5 

    The article reports on the impact of the disposal of low-selling Exubera by New York-based Pfizer Inc. on the shares of its partner Nektar Therapeutics Inc. of San Carlos, California. Shares of Nektar have dropped by 17.5% to $1.41, which is slated to close at $6.67 on October 18, 2007. However,...

  • Nektar hit hard as Pfizer scuttles inhaled insulin.  // Medical Technology & Devices Week;10/29/2007, Vol. 5 Issue 43, p2 

    The article reports on the decision of Pfizer to withdraw Nektar Therapeutics' inhaled insulin Exubera from the U.S. market. As a result, Pfizer will take a $2.8 billion charge, including a write-off of $661 of Exubera inventory. With its approval, the insulin was predicted to produce up to $10...

  • Consort axing plant, regrouping. McNulty, Mike // Rubber & Plastics News;11/26/2007, Vol. 37 Issue 9, p3 

    The article reports that Consort Medical PLC will close one plant, lay off workers and consolidate part of its business during the next 12 months because of contractual issues between two other companies. The firm said that the action follows Pfizer Inc.'s decision to withdraw from a...

  • Pfizer drops inhaled insulin.  // TCE: The Chemical Engineer;Nov2007, Issue 797, p6 

    The article reports on the impact of the decision of Pfizer to cease the production of Exubera, the inhalable insulin, on the people it employs at its production facility in Terre Haute, Indiana. Pfizer expected sales of over $1 billion per year from the drug but its sales only reached $4...

  • Nektar Sells Assets to Novartis for $115M.  // Bioworld Week;10/27/2008, Vol. 16 Issue 43, p3 

    The article reports on the sale of assets by Nektar Therapeutics Inc. to Novartis AG in the U.S. Nektar offloaded most of its pulmonary delivery assets including technology, intellectual property, manufacturing facilities and 140 employees to Novartis in exchange for $115 million cash. Nektar...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics