Irrational Exubera-nce for Pfizer?
The outfit's inhaled insulin may not be the revolutionary treatment many expect. If that proves to be the case, expect insurance companies to balk
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Investors cheered when, on Jan. 27, the U.S. Food & Drug Administration approved Pfizer's Exubera, the first inhaled insulin therapy to reach the market. The general consensus among analysts is that Exubera is likely to be a blockbuster.
Andrew Forman of WR Hambrecht predicts inhaled insulin products could achieve worldwide sales of $4.8 billion by 2010. With over 5 million Americans using insulin to treat their diabetes, if Exubera captures even a small percentage of the diabetes market, it could generate substantial revenue.