May 16th BioBreakfast. Pfizer's R&D Strategy. Sponsored by Pfizer

                                          

BioMelbourne Network's May BioBreakfast was attended by 170 leaders of Victoria's biotech industry and a delegation of senior management from Pfizer Inc. headquarters in the US. The breakfast was a great opportunity for biotech executives to hear directly from Pfizer's decision makers about the partnering opportunities that exist with the corporation's alliance strategy.

Pfizer’s senior vice-president of worldwide clinical development, Dr Briggs Morrison, told the audience that the company had created a Biotherapeutic and Bioinnovation Centre that currently has 400 projects in research and approximately 200 in development. Pfizer’s R&D investment in 2007 was USD $7.5 with ophthalmology, central nervous system, cardio-vascular, allergy and respiratory, sexual health and urology, pain and inflammation, oncology and infectious diseases as Pfizer’s key areas of therapeutic focus. Dr Morrison also said that Pfizer had more than 10,000 clinical development sites in more than 70 countries, worldwide.

Pfizer Australia's head of strategic alliances, Dr Dan Grant, told the audience that Pfizer has an incubation program where companies are able to utilise Pfizer's laboratory infrastructure. Dr Grant said that, at present, there were 3 companies involved with the program which has capacity to host up to 10 organisations. About 50 percent of Pfizer’s compounds are externally sourced and Dr Grant also said that the corporation's goal was to launch two externally sourced drugs each year.

BioMelbourne Network thanks Pfizer for its sponsorship of the May BioBreakfast and for access to its senior management team.

Thanks to Biotech Daily for factual content (www.biotechdaily.com.au)