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Viagra may help diabetics
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August 1, 2000: 1:52 p.m. ET
Pfizer stock rises as researchers report impotence pill might have new application
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NEW YORK (CNNfn) - Researchers said Tuesday that Viagra, Pfizer Inc.'s blockbuster anti-impotence remedy, could also help treat a digestive disorder that affects millions of diabetics.
Pfizer (PFE: Research, Estimates) shares rose 1-9/16 to 44-15/16 after researchers at the Johns Hopkins University School of Medicine published a study that found the little blue pills could help treat a condition among diabetics known as gastroparesis.
The problem affects up to 75 percent of long-term diabetics, causing loss of appetite, and in some cases vomiting and dehydration. The study found that both Viagra and insulin, a standard treatment for diabetes, were found to relieve the disorder in laboratory mice. 
"The study not only suggests a different approach to relieve gastroparesis, but it also could offer ways for diabetics to keep their insulin and blood sugar levels on an even keel," said Dr. Christopher Ferris, who led the research.
And for New York-based Pfizer, the development could help revitalize sales of Viagra, which have slumped after booming sales of the treatment when it went on the market in 1998.
"That is a big market -- the diabetic market is huge," S&P Equity Group pharmaceutical analyst Herman Saftlas told CNNfn.com. "It's a good thing, if there's a new indication (for the drug). But I'm not buying the stock on the basis of this."
Pfizer recently acquired smaller rival Warner-Lambert Co., making it the world's largest drug company. Pfizer was not involved in sponsoring the Johns Hopkins research.
"Our people are certainly going to give it a good through review," Pfizer spokeswoman Susan Yarin said Tuesday. "It's definitely interesting science."
The study was published in the Journal of Clinical Investigation.
Sales of Viagra totaled more than $1 billion last year, but momentum growth has slowed. In the recently completed second quarter, sales dipped slightly to $304 million, from $305 million in the corresponding period of 1999. The company blamed stocking patterns by wholesalers, citing a 28 percent jump in the total number of U.S. prescriptions written for the medicine in the first half of the year.
Meanwhile, industry rivals, including Bayer AG and TAP Pharmaceuticals, are crafting their own impotence remedies.
If Viagra ultimately is approved to treat gastroparesis, it wouldn't be the first time a drug has been found to have multiple uses, Saftlas noted.
"That's an important factor when you're investing in a huge company with many drugs," he said. "With many drugs, very often new indications (for treatment) are found."
Saftlas has a "buy" rating on Pfizer shares.
Pfizer stock slid about 10 percent July 25 after the company reported second-quarter earnings that met Wall Street estimates but fell short of many analysts' revenue expectations. In addition to disappointing sales of Viagra, the company posted a lower-than-expected increase in sales of anti-depressant Zoloft. 
-- from staff and wire reports
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