Does Viagra promote AIDS? And other Pfizer woes

Posted By Prerna Mankad Monday, January 22, 2007 - 7:43 PM Share

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It's already been another tough week for Pfizer, the world's largest drug company. In the face of expiring drug patents that could cost the company $14 billion in revenues this year, CEO Jeffrey Kindler announced today that 10,000 jobs would be cut across several countries including the United States, France, Germany and Japan. In addition to these problems, AIDS Healthcare Foundation, the leading American AIDS group in the United States, is suing Pfizer:

Pfizer's direct to consumer marketing of Viagra as a drug to enhance sexual performance is primarily aimed at men who don’t necessarily suffer from a clinical diagnosis of erectile dysfunction, and we believe it is not only irresponsible, but also illegal, especially in light of the drug’s known use as part of a 'circuit party cocktail' of drugs that is fueling the spread of STDs and HIV," said Michael Weinstein, President of AIDS Healthcare Foundation.

Then there's the failure of Torcetrapib, a drug developed by Pfizer to treat heart disease that was ultimately abandoned in December due to fundamental safety issues. In the same month, Pfizer saw its debt rating downgraded—making the company the last major drug producer to lose its (Moody's) AAA rating. The expiring patents are yet another blow to add to the list of troubles faced not only by Pfizer, but by other large pharmaceutical firms as well. It will be interesting to see how these companies will fare as more patents run their course and the competition from generic drug makers—particularly in developing countries—intensifies.

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