Pfizer Inc.: The Torcetrapib Failure and the Future of the World’s Largest Drug Manufacturer

Pfizer Inc.: The Torcetrapib Failure and the Future of the World’s Largest Drug Manufacturer

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Abstract

In December 2006, Pfizer announced the halt of the Torcetrapib clinical trial, a once very promising drug in the fight against coronary artery and heart disease. At the same time, Pfizer announced its initial plans of layoffs and cost reductions would be expedited as a result of the trials. With the loss of patent protections for a series of drugs including Lipitor, the cancellation of Bextra, and the black label warning on Celebrex tablets, how does Pfizer seek continued success while appeasing shareholders?

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