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Pfizer returns Exubera to Nektar

Executive Summary

Pfizer and Nektar resolve all outstanding contractual issues related to Exubera and Nektar's Phase I next generation inhaled insulin, which was halted after Pfizer discontinued return of Exubera in October (1"The Pink Sheet" Oct. 22, 2007, p. 4). Pfizer will make a $135 million one-time payment and agrees to return remaining rights to Nektar if the firm selects a new Exubera partner. The firms will continue with other joint projects such as a pegylated human growth hormone therapy to treat short stature and growth problems, currently in Phase II trials...
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