Pfizer Passed on GLP-1 Research in Early 1990s

In the early 1990s, scientists John Baxter and Jeffrey Flier conducted groundbreaking research on glucagon-like peptide-1 (GLP-1) that would eventually underpin today's blockbuster diabetes and obesity medications.

The researchers approached Pfizer to license their discoveries, but the pharmaceutical giant declined to move forward with the technology. This decision occurred decades before GLP-1 agonists like Ozempic and Wegovy generated billions of dollars in revenue.

After Pfizer's rejection, the research was licensed to smaller companies including Calbio and Metabio. These firms continued developing the science that ultimately transformed treatment for diabetes and weight management.

The missed opportunity demonstrates how even major pharmaceutical companies can overlook promising scientific developments that later prove to be highly lucrative and medically significant.

John Baxter and Jeffrey Flier were conducting research on GLP-1 in the early 1990s, a time when the peptide's potential as a therapeutic target was not widely recognized.

Their work focused on understanding how GLP-1 functions in the body and how it could be harnessed to treat metabolic disorders. This research represented a critical foundation for the development of GLP-1 receptor agonists.

At the time, the pharmaceutical landscape was different, and companies were evaluating numerous potential drug targets. The decision-making process required weighing scientific promise against development costs and market potential.

The researchers sought corporate partners to help translate their laboratory findings into viable medicines, approaching major pharmaceutical companies including Pfizer with their discoveries.

Pfizer evaluated the GLP-1 research from Baxter and Flier but ultimately chose not to license or pursue the technology.

The decision was made during a period when the full therapeutic and commercial potential of GLP-1 agonists was not yet apparent to the industry. Major pharmaceutical companies routinely make choices about which research programs to support based on available evidence at the time.

After Pfizer passed on the opportunity, the researchers had to find alternative partners to continue development. This led to licensing agreements with smaller, more specialized companies.

The choice not to invest in GLP-1 research would prove to be one of the more significant missed opportunities in modern pharmaceutical history, as the market for these drugs eventually grew to billions of dollars annually.

Following Pfizer's decision, the GLP-1 research was licensed to companies including Calbio and Metabio.

These smaller firms continued developing the science, eventually leading to partnerships and acquisitions that brought the technology through clinical development and regulatory approval.

The pathway from academic research to approved drug involved:

• Initial discovery and characterization of GLP-1 effects
• Licensing to specialized biotechnology companies
• Further development and clinical testing
• Eventual commercialization by major pharmaceutical firms

This trajectory illustrates how drug development often involves multiple stages and different organizations taking on various risks and investments over many years.

Decades after Pfizer's initial decision, GLP-1 receptor agonists have become among the most successful pharmaceutical products in history.

Medications like semaglutide have generated billions of dollars in revenue and transformed treatment for both diabetes and obesity. The market success has validated the scientific insights from the early 1990s research.

The story highlights several important aspects of pharmaceutical development:

• Scientific discoveries often take decades to reach full commercial potential
• Predicting which research programs will succeed is inherently difficult
• Smaller companies can play crucial roles in advancing early-stage science
• Major pharmaceutical companies sometimes miss opportunities that later prove highly valuable

For Pfizer, the decision represents a notable example of a company passing on technology that would eventually reshape treatment paradigms and generate enormous returns for competitors.