Pharmaceutical & Life Sciences News

Pfizer’s Neverending Hospital-Drug Woes Spell Trouble for Maker

Oct. 30, 2018, 8:08 PM

Buying Hospira was supposed to open a bright new pharmaceutical future for Pfizer Inc., but problems from the company’s past keep haunting the world’s largest drugmaker.

When Pfizer agreed to pay $17 billion to take over Hospira in 2015, the deal was presented as a bet on biosimilars—cheaper versions of brand-name biologic medications that could steal the thunder from some of Pfizer’s rivals’ biggest products. The move would position Pfizer as the biggest player in a burgeoning medical marketplace.

It hasn’t worked out that way. The biosimilar market in the U.S. has been slow to develop amid legal wrangling over...

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