Wednesday, September 03, 2008

Pfizer strengthen Alzheimer portfolio

Move over Aricept.

Pfizer will pay Medivation as much as $725 million for rights to a promising experimental drug for Alzheimer's disease, as the world's largest drug maker seeks to boost its pipeline.

Pfizer will pay an initial $225 million for rights to the drug, Dimebon, which is also being developed for Huntington's disease, the companies said on Wednesday.

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