Friday was a particularly impressive day for pharmaceutical giant Wyeth
Wyeth acquired Haptogen, a biopharmaceutical company that specializes in the discovery of therapeutic antibodies. Among other things, Haptogen has studied cancer-fighting treatments involving the use of antibodies in sharks. This is a key acquisition for Wyeth, bolstering its research and development arm. Other large-cap drug makers have recently made similar acquisitions to strengthen their R&D pipelines, including Bristol-Myers Squibb's
In NDA news, Wyeth said that its drug candidate bazedoxifene/conjugated estrogens yielded positive results in relieving symptoms of hot flashes in postmenopausal women. The results, demonstrating the promise of this hormone therapy in phase 3 clinical trials, have led the company to expect that it will submit an NDA to the FDA in the second quarter of 2008. The company has already received an approvable letter from the FDA for the use of bazedoxifene to prevent postmenopausal osteoporosis.
Wyeth recently posted year-over-year sales growth for nine of its 10 top-selling drugs. Now it appears that one of the strongest companies in this sector is getting even stronger.