Pfizer plans to triple Phase III drug portfolio

The world’s largest drug company said it currently has 47 drugs in the Phase II stage, 38 in Phase I, and 11 in Phase III. Four drugs at the Phase II stage have been discontinued, although the company did not disclose which ones.

Phase III is the last clinical trial stage before a drug is sent for final approval to the FDA.

Pfizer says its drug pipeline includes 17 pain and inflammation drugs, 20 cancer drug candidates, and 17 drugs for neurological disorders.

“With the progress we are seeing in our pipeline – as well as our efforts in reducing our attrition rates – we are also continuing to target having a steady stream of new medicines from our internal R&D, four a year, starting in 2011,” Pfizer’s chairman and chief executive Jeff Kindler said in a company statement.