NEW YORK and LEVERKUSEN, Germany, June 14 /PRNewswire-FirstCall/ --
Pfizer Inc and Bayer Pharmaceuticals Corporation (BPC), the U.S. subsidiary
of Bayer HealthCare, announced today that they have entered into an
agreement granting Pfizer exclusive worldwide rights to Bayer's DGAT-1
inhibitors, an innovative class of compounds that modify lipid metabolism.
The lead compound in the class, BAY 74-4113, is a potential treatment for
obesity, type 2 diabetes and other related disorders. The compound is
currently in Phase I clinical development.
    "Obesity and diabetes are expanding hand-in-hand at near epidemic
levels throughout the world. The need for new treatment options for
patients has never been greater," said Martin Mackay, Ph.D., senior vice
president, Worldwide Research & Technology for Pfizer. "We are excited
about the potential of the DGAT-1 inhibitors in the areas of obesity and
type 2 diabetes which complement Pfizer's ongoing metabolic disease
research programs."
    According to Dr. Gunnar Riemann, Head of Bayer HealthCare's
Pharmaceuticals Division, "This licensing agreement with Pfizer validates
the quality of our expertise in research. Our decision to outlicense this
promising candidate is in line with our focus on specialty
pharmaceuticals."
    An estimated 194 million people have either type 1 or 2 diabetes,
according to the International Diabetes Federation. The World Health
Organization estimates that by 2025 the number of people with diabetes will
exceed the current U.S. population. Type 2 diabetes is the most common and
fastest growing form of the disease and it is often complicated by obesity.
    Under the terms of the agreement, Bayer will receive an upfront fee,
milestone payments and royalties on sales of any compounds successfully
commercialized. Specific financial terms were not disclosed. The agreement
is subject to approval under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976 and is expected to close in the second half of 2006.
    Pfizer Inc
    Pfizer Inc, the world's largest research-based pharmaceutical company,
discovers, develops, manufactures and markets prescription medicines in 11
therapeutic areas. Pfizer is also the world's largest animal health company
and one of the world's largest marketers of consumer healthcare products.
    Founded in Brooklyn in 1849, Pfizer today markets its medicines and
other products in more than 180 nations. The company has approximately
105,000 colleagues worldwide, all of whom are devoted to working for a
healthier world. Pfizer conducts more biomedical research than any other
corporation, and has 14,000 professionals working in six major R&D sites
worldwide. Pfizer's research investment in 2005 was more than $7.4 billion.
    Pfizer's best-selling prescription medicines are Lipitor, for
cholesterol; Norvasc, for hypertension; Zoloft, for depression; Celebrex,
for arthritis; Lyrica, for epilepsy and neuropathic pain; and Viagra, for
erectile dysfunction. Recent approvals include Sutent, for certain cancers;
Chantix, for smoking cessation; and Exubera (inhalable insulin) for
diabetes.
    Bayer HealthCare
    Bayer HealthCare, a subsidiary of Bayer AG, is one of the world's
leading, innovative companies in the health care and medical products
industry based in Leverkusen, Germany. In 2005, the Bayer HealthCare
subgroup generated sales amounting to some 9.4 billion Euros. Bayer
HealthCare employed 33,800 people worldwide in 2005.
    The company combines the global activities of the divisions Animal
Health, Consumer Care, Diabetes Care, Diagnostics and Pharmaceuticals.
Since January 1, 2006 the new Pharmaceutical Division consists of the
former Biological Products and Pharmaceutical Division and now comprises
three business units: Hematology/Cardiology, Oncology and Primary Care.
    Bayer HealthCare's aim is to discover and manufacture products that
will improve human and animal health worldwide. The products enhance
well-being and quality of life by diagnosing, preventing and treating
diseases.
    Pfizer Disclosure Notice
    The information contained in this release is as of June 14, 2006.
Pfizer assumes no obligation to update any forward-looking statements
contained in this release as a result of new information or future events
or developments.
    This release contains forward-looking information about an agreement by
Pfizer to acquire the rights to various compounds from Bayer
Pharmaceuticals Corporation as well as the potential benefits of such
compounds. Such information involves substantial risks and uncertainties
including, among other things, the uncertainties inherent in research and
development activities; decisions by regulatory authorities regarding
whether and when to approve any drug applications that may be filed for
such compounds and their decisions regarding labeling and other matters
that could affect the availability or commercial potential of such
compounds; and competitive developments.
    A further list and description of risks and uncertainties can be found
in the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2005, and in its reports on Form 10-Q and Form 8-K.
    Bayer Disclosure Notice
    This news release contains forward-looking statements based on current
assumptions and forecasts made by Bayer Group management. Various known and
unknown risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation,
development or performance of the company and the estimates given here.
These factors include those discussed in our public reports file with the
Frankfurt Stock Exchange and with the U.S. Securities and Exchange
Commission (including our Form 20-F). The company assumes no liability
whatsoever to update these forward-looking statements or to conform them to
future events or developments.

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http://www.prnewswire.com/comp/688250.html/
CONTACT:
Kate Robins of Pfizer Inc, +1-860-732-9684;
or Dr. Michael S. Diehl of Bayer HealthCare, +49-0-214-30-58532

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