Pfizer Spends $1.9 Billion on Biotech Firm

The news of Pfizer's $1.9 billion purchase of biotechnology firm Vicuron Pharmaceuticals may have flown under the radar late last week for some, but it was nothing new or surprising to business analysts.

The Vicuron deal is a means to an end, allowing the world's largest drugmaker to replenish its line of money-making products, especially since two of their best sellers -- Diflucan and Zithromax -- have or will lose patent protection this year. (Vicuron has two new drugs in the federal pipeline, slated for FDA approval by this fall.)

Pfizer can certainly afford it, considering they sell $10 billion of Lipitor a year and have built a war chest in foreign profits -- thanks to recent changes in domestic tax code -- of some $28 billion during the first quarter of this year alone.

Just another case of a filthy rich pharmaceutical company tapping a new pipeline to drugs that do absolutely nothing for your health, and everything for their coffers.

USA Today June 17, 2005

Technology Review June 17, 2005

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