Pfizer ends study of pancreatic cancer drug

Drug developer Pfizer Inc. said Friday it will stop developing a drug candidate for advanced pancreatic cancer because the drug failed to prompt improvement in patients.

The drug candidate axitinib was in Phase III, or late-stage development. That is often the most expensive period of the clinical process for a drug candidate.

Interim study analysis showed the drug, in combination with the chemotherapy drug gemcitabine, worked no better at improving survival than with gemcitabine alone.

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"These results were disappointing, given the trend toward prolonged survival seen in a Phase II study of axitinib in this extremely difficult-to-treat patient population," said Dr. Mace L. Rothenberg, senior vice president, clinical development and medical affairs at Pfizer, in a statement.

The company will continue studying the drug as a potential treatment for renal cell carcinoma, a form of kidney cancer.

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The clinical program announcement comes as Pfizer moves to buy rival Wyeth for $68 billion. That deal would further diversify Pfizer's product offerings, adding vaccines, biotech drugs, traditional pills and nonprescription products for both people and animals.

Shares of Pfizer fell 54 cents, or 3.6 percent, to close at $14.58.