Pfizer Inc. won approval for an inhaled insulin, Exubera

Pfizer Inc. won approval for an inhaled insulin, Exubera, in 2006 but pulled it from the market the following year after sales were lower than expected, according to an FDA staff report. The drug was associated with a higher risk of lung cancer because insulin is directly deposited in the lungs.

“There’ll be deep skepticism in the market given the history of inhaled insulin with Pfizer’s Exubera and what a commercial failure it was,” Citigroup’s Verdult said. “This time round the device is better. With inhaled insulin you’re always going to have the concerns around long-term use and long-term safety.”