Pfizer Drops Development and Returns Rights for HIV Drug and Smoker's Lung Drug

The development of the HIV drug, capraverine, and that of Daxas, the drug meant to treat chronic obstructive pulmonary disease, will be halt, due to disappointing studies, announced Pfizer.

None of the drugs showed any substantial benefit over the standard therapies for the patience, mid-stage trial revealed.

Pfizer will return the rights for capaverine to Japan's Shiongy & Co., while the rights for Daxas will go back to the German company Altana, as their shares plunged about 12 percent after the announcement has been made.

Pfizer will fully assume responsibility for Daxas, which has been expected to be a blockbuster for the smoker's lung disease, failed to provide the assistance everybody hoped it could bring on the market.

Pfizer Inc. has recently issued a statement in which it denied any accusations on Viagra causing blindness to the patients who currently use the drug.