Have Pfizer and Wyeth Considered Their Competing Products?

Wyeth's (WYE) "Enbrel" product (Tumor Necrosis Factor Inhibitor) can be said to compete with Pfizer's (PFE) controversial Celebrex (NSAID) in the broad, and highly competitive, arthritis treatment drug segment. The critical aspect here is that the TNF Inhibitor niche has been generally considered by regulators as a distinct treatment approach and alternative to NSAID's and other common pain relief options.

This FTC complaint in the IMNX-AMGN merger.-- which resulted in WYE obtaining rights to Enbrel -- notes that at the time of the IMNX-AMGN deal (c. 2002) the TNF Inhibitor market was limited to three players. Although the markets have changed in terms of products and effectiveness, there are still essentially three primary players in the arthritis-biologics field: Enbrel, Remicade (JNJ), and Humira (ABT).

JNJ's Remicade and Enbrel have essentially controlled this market in recent years.

In the arthritis market as a whole, this WYE's Enbrel and PFE's Celebrex could certainly be considered competing products and, if the market was concentrated, a potential area of interest for regulators. The fact is that this is one of the most competitive drug markets today, with a wide variety of treatment options available both via subscription and over-the-counter. Furthermore, the arthritis product pipeline is one of the most active, rivaling oncology and heart treatment in terms of sheer volume of potential products.

In short, this also does not look a like a major area of concern with respect to this deal's regulatory obstacles. It would be surprising even under the new FTC/DOJ leadership if the Enbrel/Celebrex aspect were to raise any interest whatsoever with U.S. and European regulators.

Comments

[User 354250:]

You could not be more incorrect in your claim that Enbrel and Celebrex are competing products. They have entirely different mechanisms of action, and entirely different places in a physicians therapeutic options.

Feb 10 08:33 AM