Pfizer, the world's largest research-based pharmaceutical company, has withdrawn the on - going research pioneered by it to curb lung cancer by the utilizing the properties of the drug named figitumamab. The step has been taken after confirmation was made about the probable ineffectiveness of the drug in treating the disorder.

On Thursday, Pfizer Inc. declared that two Phase III studies of its advanced breast cancer drug, Sutent was not successful in meeting its principal goals.

The drug giant also said that it has ceased a further study of the drug candidate figitumumab in patients with last stage lung cancer, owing to failure in experiments.

In recent study of Pfizer's Prevnar 7 vaccine, which is used for treatment of pneumonia and meningitis, it has been found that the vaccine is capable of blocking possibility of reappearance in HIV infected patients . The research appeared in the New England Journal of Medicine.

Pfizer, Inc., the world’s largest drug maker, recently decided to offer around $4.1 billion to get hold of German generic-drug maker Ratiopharm, to increase its drug business. The acquisition would pit Pfizer against Teva Pharmaceuticals Industries of Israel and Actvis of Iceland, both of which are interested in Ratiopharm.

The U. S. Food and Drug Administration today extended an official approval to Prevnar 13, a pneumococcal 13-valent conjugate vaccine for infants and young children ages 6 weeks through 5 years.

It is a new version of a blockbuster vaccine that fights pneumonia, meningitis and other diseases caused by pneumococcus bacteria, a company spokeswoman said on Wednesday.

A survey sponsored by Pfizer stated that western Europeans spend an estimated 10.5 billion euros ($14.3 billion) every year on buying medicines illicitly and several of these medicines were fake.

Pfizer, the world’s biggest drug maker, posted its fourth-quarter profit to have missed analysts’ estimates on costs from its acquisition of Wyeth and projected lower-than-expected earnings in 2010.

Pfizer revealed that it has recently filed applications with the regulators in the U. S., Europe and Canada in a view to get its Sutent approved for treating a rare type of pancreatic cancers.

Pfizer Inc.’s earlier-rejected, resubmitted application for the use of its Lyrica capsules CV as a mono-therapy for generalized anxiety disorder has met with yet another rejection by the US Food and Drug Administration (FDA).

Compugen Ltd signed a research deal with Pfizer Inc. to discover three new drugs.

Compugen market shares rose by 18% to a new high of $3.35 in pre-market trade. Pfizer stock, on the other hand, rose to $18.71 in pre-market trade.