Pfizer/OSI's Macugen gets OK in Europe

World drugs giant Pfizer says that the European Commission has granted marketing authorization for Macugen (pegaptanib sodium injection) for the treatment of neovascular wet age-related macular degeneration, an eye disease that destroys central vision.

The agent, which is already approved for this indiction in the USA and elsewhere, is the first to target the underlying disease process and has been proven to help preserve visual acuity in patients with the condition, preventing severe vision loss at twice the rate of standard care, which includes photodynamic therapy.

The first-in-class therapeutic was orginated by the USA's Eyetech Pharmaceuticals, which granted Pfizer the co-development and marketing rights in a deal that could be worth as much as $750.0 million. Last year, OSI Pharmaceuticals acquired Eyetech for $935.0 million in cash and stock, largely to get its hands on the drug. When positive Phase III results were released on a potential competitor, Novartis/Genentech's vision-loss drug candidate Lucentis (ranibizumab), OSI delayed the acquisition (Marketletter November 21, 2005).