A drug developed by a Northwestern professor earned $1.2 billion for Pfizer in 2006, according to earnings reported by the pharmaceutical company Monday.
Lyrica, which treats chronic nerve pain, is the company’s first blockbuster drug – defined as a product that generates more than $1 billion in revenue – in almost a decade.
It was developed by chemistry Prof. Richard Silverman in 1989 and has been available in the U.S. since September 2005.
NU receives 6 percent of the drug’s revenue, which equals about $72 million in 2006.
Lyrica’s profits might go to the university’s endowment and other projects, such as constructing a new music building and expanding Norris University Center, University President Henry Bienen told the Daily in January 2005.
Lyrica works by soothing hyperexcitable nerve endings that cause seizures and pain and by alleviating anxiety associated with psychiatric disorders.
Original analyst expectations predicted much lower sales of about $500 million for Lyrica in 2006. Lyrica was also the subject of a $430 million Pfizer settlement for allegations that it had marketed the drug’s predecessor, Neurontin, for unapproved uses.
Bienen is traveling and could not be reached for comment for this story. Both Silverman and Alan Cubbage, vice president for university relations, declined to comment about any financial data relating to Lyrica.
– Matt Presser
