Pfizer Buys FoldRx–Company Focused on Treatments for Parkinson’s disease, Huntington’s Disease, And Cystic fib
Posted Sep 01 2010 11:04am
The bigger pharma companies continue with acquisitions and FoldRX focuses on niche disease cures in the neurological area. Next year is when the patent expires for Lipitor and the company is looking for ways to replace lost revenue that will occur when generics become available. BD
Pfizer Inc.. agreed to buy closely held FoldRx Pharmaceuticals Inc. as it looks to expand into medicines for rare disorders.
FoldRx, based in Cambridge, Massachusetts, is focused on developing treatments for conditions caused by the improper folding of proteins, Pfizer said today in a statement. Financial terms of the deal weren’t disclosed.
The deal fits with Pfizer’s strategy of focusing on medicines for niche diseases, Geno Germano , head of Pfizer’s specialty care unit, said in a telephone interview. Pfizer set up a research division in June focused on developing medicines for orphan diseases , classified as conditions affecting less than 200,000 people. More than 30 million Americas have one of 6,000 orphan diseases, according to the National Organization for Rare Disorders.