U.S. Markets open in 8 hrs 58 mins

On the Call: Pfizer CEO Ian Read

The Associated Press

During a conference call announcing its third-quarter results, Pfizer Inc. executives and analysts discussed the drugmaker's efforts to develop biosimilars, drugs that are sort of like generic versions of biologic drugs. Because they are produced in living cells rather than by combining chemicals such as pills are, biosimilars aren't identical to the original drug and are expected to be a little less expensive, but by no means cheap.

QUESTION: Some of your peers recently have made negative comments about the potential market for biosimilars. Why not Pfizer?

ANSWER: Each company takes its own view. We feel that we have the technology and the ability to bring biosimilars to market. ... We believe it is a reasonably low-cost development opportunity for products that have a high commercial potential.