Drug company pulls research money | NATIONAL | NEWS

Send to friend

Email update

Related Video

Drug company pulls research money (2:49)

Sponsored Links

Drug company pulls research money

May 11, 2004 10:42 PM

The company that brought the world viagra is prematurely pulling out of a multi-million dollar deal to fund cancer research at Auckland University.

Pfizer is angry with the decision by New Zealand's state drug funding agency Pharmac to switch to another supplier of cholesterol-lowering statin drugs.

It has responded by cancelling $66 million worth of research funding.

Pfizer is one of the world's three drug giants, thanks in part to sales of its impotence drug viagra.

But it says Pharmac's decision to ditch another one of its big sellers, lipitor, in favour of a cheaper version of the cholesterol-lowering drug is the straw that broke the camel's back.

"What we're finding is more and more of our medicines are becoming unavailable to the average New Zealander - hence we're looking for an environment which supports both the discovery of medicines and also providing them to New Zealanders," says Mark Crotty of Pfizer New Zealand.

Pfizer is pulling out of a $66 million research and development contract with the Auckland Cancer Society research centre attached to Auckland University.

"This is a very serious loss and by far our largest contract," says Dr John Kernohan of Auckland Uniservices.

"It's also a very serious loss because this is such a great research group - it's a world class group."

For the last 25 years labs like the one at Auckland University have been developing anti-cancer and anti-bacterial drugs. Seven of these drugs are at the clinical trial stage.

The jobs of 18 scientists are in jeopardy unless a replacement sponsor is found by the end of the year.

Pharmac won't talk about the Pfizer funding move but it is standing by its decision to drop lipitor.

"We want to ensure the people of New Zealand have access to good quality drugs and a good range of drugs, and by ensuring that we get a fair price we are able to fund new drugs," says Crotty.

Source: One News