• The [New London, Conn.] Day , Thursday, September 4, 2008 10:30 AM

Pfizer is paying San Francisco-based Medivation $225 million up front for worldwide marketing rights to Dimebon, a 25-year-old antihistamine developed in Russia that has shown promise for treating patients with mild to moderate Alzheimer's disease. It will pay another $500 million if the drug receives approval from the U.S. Food and Drug Administration. Pfizer will pay for 60% of the drug's development expenses and reap 60% of profits; Medivation holds the remaining 40% stake in both expenses and profits.

An 18-month study revealed in July at the International Conference on Alzheimer's disease, showed that memory, cognitive function and behaviors either showed no decline or exhibited actual improvement in patients who were treated with Dimebon, according to David T. Hung, president and CEO of Medivation.

Results from a late-stage Dimebon study are expected in 2010, and marketing of the drug, if it is successful, is to begin no later than 2011 -- the same year that Pfizer's Lipitor will be subject to generic competition in the U.S.

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