Pfizer is ending research for drugs to treat Alzheimer's and Parkinson's
Pfizer will no longer conduct research and development into finding new drugs to treat Alzheimer's and Parkinson's diseases.
The pharmaceutical company made the announcement on Saturday, and it estimates it will cut 300 jobs from its neuroscience discovery and early development programs, Reuters reports. Pfizer, along with GlaxoSmithKline and Eli Lilly, is part of the Dementia Discovery Fund; in 2012, it saw its drug bapineuzumab, made in partnership with Johnson & Johnson for people with mild to moderate Alzheimer's, fail in the second round of clinical trials.
Pfizer said it is redistributing the money it spends on research and is not changing the research and development funding for Lyrica, used to treat fibromyalgia, and tanezumab, marketed as a treatment for joint pain caused by osteoarthritis.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Who are undecided voters, anyway?
Talking Points They might decide the presidential election
By Joel Mathis, The Week US Published
-
Wildlife populations drop a 'catastrophic' 73%
Speed Read The decline occurred between 1970 and 2020
By Peter Weber, The Week US Published
-
Arizona kicks off swing-state early voting
Speed Read The voting began with less than a month to go before the presidential election
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published