Pain Therapeutics Inc. (PTIE) announced that Pfizer Inc. (PFE), its commercial partner for pain relief drug Remoxy, is reviewing its continued participation in Remoxy development program. But, Pfizer said that it cannot provide an exact time frame for its decision.
The U.S. Food and Drug Administration had rejected their application for Remoxy through a June 2011 complete response letter.
In a letter to Pain Therapeutics dated on May 9, Pfizer said it is reassessing timelines given the new guidance and while they are not yet firm, it believes its response to the June 2011 complete response letter will not be submitted to the FDA before mid-2015. Given the years of delay, additional cost incurred to bring the program to this point and development work left in the program, there will be much to consider when it seeks management endorsement.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.