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Pfizer invests in vaccine technology
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Pfizer is in the midst of a turnaround strategy as it faces the end of patent protection on several of its key medicines. It announced Friday it will acquire biopharmaceutical company Coley, based in Wellesley Massachusetts in a 164 million dollar deal. Coley CEO Robert Bratzler says the company’s drug candidates are good fit for Pfizer.

We see tremendous synergies and potential applications for our drug candidates in the areas of cancer, inflammation, auto-immune and infectious diseases – all key therapeutic areas for Pfizer.

The two companies are well known to each other - Coley has partnered with Pfizer since 2005 in developing an oncology drug, currently in phase two clinical testing. The acquisition boosts Pfizer’s presence in vaccine development – it already has vaccine research projects in the UK and California. Loss of patent protection on blockbuster drugs like Zoloft, Zithromax and Norvasc has challenged Pfizer’s ability to grow its top line. The company has already said it doesn’t expect revenue to pick up again until new drug candidates come to market some time in 2009.