Exubera Does Not Mean Exuberant
Make a commentBy Ed Silverman // January 23rd, 2007 // 2:23 pm
Just ask investors in Nektar Therapeutics, which makes the inhaled insulin device.
After Pfizer execs yesterday acknowledged sales have, so far, been disappointing - almost negligible, in fact - Wall Street realized the diabetes treatment really is a tough sell.
Nektar shares were down more than 8 percent this afternoon on unusually heavy volume.
For their part, the Pfizer team isn’t giving up. They’re planning a big promotional push soon.
A “slow launch has not lessened expectations at Pfizer, merely delayed them,” Jim Reddoch, a an analyst at Friedman Billings Ramsey, wrote this morning in a note to investors.
Okay, Nektar shareholders. Breathe deeply.
[tags]Exubera, Nektar Therapeutics, Pfizer[/tags]