Pfizer Inc. (NYSE: PFE) Recalls Accuretic For Nitrosamine Contamination

Pfizer Inc. (NYSE: PFE) has recalled some lots of Accuretic, a hypertension drug. The company is also recalling two cheaper versions of Accuretic. This move is due to nitrosamine, which is carcinogenic, in the medication.

While Pfizer has said that patients who take the drug are not at immediate risk of developing cancer, taking nitrosamines for prolonged periods in high dosages could cause dancer. This is not the first time Pfizer has recalled a drug for nitrosamines, as it recalled Chantix in 2021.

The U.S Food and Drug Administration has approved the third dose of the Pfizer and BioNTech SE (NASDAQ: BNTX) vaccine in 2021. The FDA later expanded this authorization to people aged 16 to 17, then adolescents of 12-15 years.

Meanwhile, Alnylam Pharmaceuticals Inc is suing Moderna and Pfizer for patent infringement. However, Alnylam stated that it would not prevent the companies from producing, distributing, and selling the vaccines.

A report indicates that the oncology biosimilars market will experience growth

Meanwhile, the Research and Markets have added a new report which evaluates the global oncology biosimilars market. The report indicated that the market could grow to $4.19 billion in 2022.

This growth is fuelled by operations returning to normal after the COVID-19 restrictions ease. The oncology biosimilars market involves selling medicines and products for cancer treatment. In 2021, North America was the largest oncology biosimilars market. Experts believe that the Middle East could be the fastest-growing market.

The report looks into the performance of other regions in the biosimilars market. These include Africa, South America, Eastern Europe, Western Europe, and Asia-Pacific.

The Medicines Patent Pool has announced that 35 pharmaceutical companies have agreed to supply developing countries with a generic form of Paxlovid. This move is an effort to provide middle and low-income countries with COVID-19 medication. Pfizer Inc is one of these companies.

Albert Bourla details the making of the Pfizer vaccine in his book

In his book, the CEO of Pfizer, Albert Bourla, described its efforts to find a vaccine for COVID-19 and the setbacks they experienced in the process. Bourla didn’t shy away when he found out that the company would have to invest $2 billion into the project. He was more focused on time rather than money. However, if the project didn’t work, that would have meant the end of his career.

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Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.