Pfizer and Nektar finalize agreement on Exubera

Under the terms of the agreement, Nektar will receive a one-time payment of $135 million from Pfizer in satisfaction of all remaining obligations under existing agreements relating to Exubera and next generation inhaled insulin (NGI).

In addition, in the event that a new partner is selected, Pfizer has agreed to transfer its remaining rights and all economic benefits for Exubera and NGI. This transfer of Pfizer’s interests would include the transfer of the Exubera new drug application and investigational new drug applications and all ex-US regulatory filings and applications, continuation of ongoing Exubera clinical trials and certain supply chain transition activities.

Jeffrey Kindler, chairman and CEO of Pfizer, and Howard Robin, president and CEO of Nektar, said: “This agreement demonstrates the industry leadership of Pfizer and the company’s desire to work with world-class biotechnology partners like Nektar. The agreement strengthens our relationship and demonstrates our ability to work together to craft a solution that allows Nektar the ability to pursue additional commercial opportunities for the Exubera and NGI inhaled insulin franchises. Further, we look forward to advancing our joint development of PEGylated human growth hormone therapy to treat short stature and growth problems.”