Pfizer and Bristol-Myers Squibb finalize agreement for worldwide collaboration on metabolic disorders program

Companies Will Jointly Conduct Phase III Development and Commercialization of DGAT-1 Inhibitor Compounds



NEW YORK, NY, and PRINCETON, NJ, AUGUST 27 - Pfizer Inc (NYSE:PFE) and Bristol-Myers Squibb Company (NYSE:BMY) ("companies") today announced that they have finalized a definitive agreement for the worldwide collaboration to research, develop and commercialize DGAT-1 inhibitors, a collaboration first announced on April 26, 2007.  Pfizer's DGAT-1 discovery program includes advanced pre-clinical compounds with potential applications for the treatment of metabolic disorders, including obesity and diabetes.  The program also includes DGAT-1 inhibitors in-licensed by Pfizer from Bayer Pharmaceuticals Corporation in June 2006, including a pre-clinical compound (known as PF-04415060 or BAY 74-4113) originally discovered by Bayer. 

Under terms of the agreement, Pfizer will be responsible for all research and early-stage development activities for the metabolic disorders program, and the companies will jointly conduct Phase III development and commercialization activities.     

"The worldwide incidence of metabolic disorders is increasing rapidly, and complications from diabetes and obesity are leading causes of disability and mortality globally.  DGAT-1 inhibitors have shown promise in pre-clinical testing, and this research program has potential to yield several compounds that may improve treatment options for patients," said Elliott Sigal, chief scientific officer and president, Research and Development, Bristol-Myers Squibb.  "This collaboration underscores the company's commitment to investing in research and development, and reflects our strategy to identify partnerships that complement our own research efforts to enhance our innovative pipeline."

"Pfizer's agreement with Bristol-Myers Squibb reflects our efforts to build external alliances and share resources to address significant areas of unmet medical need," said Dr. Ed Harrigan, senior vice president of Pfizer Worldwide Business Development.  "This Agreement is one part of a collaborative relationship with Bristol-Myers Squibb which combines the strengths of both companies in the development of two promising research programs.  Pfizer continues to look for new strategic opportunities to complement our portfolio of medicines and drive long-term growth of the company." 

About DGAT-1 Inhibitors
Triglycerides are the principal component of fat, which is the major repository for storage of metabolic energy in the body.  DGAT-1 (diacylglycerol acyl transferase-1) is an enzyme critical to the creation of triglycerides and fat storage.  Overweight and obese individuals have significantly greater triglyceride levels, making them more prone to diabetes and its associated metabolic complications.  In studies of obese animals, DGAT-1 inhibitors have been shown to induce weight loss and improve glucose tolerance and lipid levels.  These observations suggest DGAT-1 inhibitors may have the potential to treat obesity, diabetes and dyslipidemia. 

About Pfizer
Pfizer discovers and develops innovative medicines to treat and help prevent disease for both people and animals.  We also partner with healthcare providers, governments and local communities around the world to expand access to our medicines and to provide better quality healthcare and health system support. 

About Bristol-Myers Squibb
Bristol-Myers is a global pharmaceutical and related healthcare products company whose mission is to extend and enhance human life.