Pharma BD Deal Intelligence

Pfizer Inc. / Sanofi-Aventis (Exubera worldwide rights)

2006 · Asset Purchase · $1.4B · Complete

CALLED IT — OFF BY 16

Pfizer paid to consolidate full rights to Exubera in 2006, then killed the product 20 months later and ate a $2.8B write-off — one of the largest pharma product failures on record.

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The coverage arc

Jan 12, 2006 Nektar Therapeutics IR Bullish

Nektar (technology partner) characterized the Pfizer buyout as removing partnership friction and giving Exubera a single committed marketer behind a major…

Dec 08, 2007 BMJ / PMC Bearish

Pfizer paid $1.3bn for full Exubera rights then withdrew the product 21 months later citing $12M sales versus $2bn projected peak - 'first time a licensed…

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Pfizer bought out Sanofi WW rights to inhaled insulin Exubera plus Frankfurt insulin facility

Did it work? Outcome assessment

Pfizer paid to consolidate full rights to Exubera in 2006, then killed the product 20 months later and ate a $2.8B write-off — one of the largest pharma product failures on record.

Strategic verdict
Failed to Achieve

Key facts

Related deals — scored

DealYearValueOutcome
Pfizer Inc. / Sanofi-Aventis (Exubera worldwide rights) (this deal)2006$1.4B9
Pfizer Inc. / BioNTech SE2020$748M100
Pfizer Inc. / FoldRx Pharmaceuticals201099
Pfizer Inc. / Medivation Inc.2016$14.0B86
Pfizer Inc. / Wyeth2009$68.0B86
Pfizer Inc. / Warner-Lambert Company2000$90.0B83
Pfizer Inc. / Arvinas, Inc.2021$2.4B77

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