Pfizer, the world's largest research-based pharmaceutical company, has withdrawn the on - going research pioneered by it to curb lung cancer by the utilizing the properties of the drug named figitumamab. The step has been taken after confirmation was made about the probable ineffectiveness of the drug in treating the disorder.

Pfizer disclosed the failure of two of its researches lately, which aimed for treating of Alzheimer's disease and advanced breast cancer. The researches had to be stopped in the late- stages.

Pfizer said, "It was disappointed in the Sutent trial results, but it remains committed to exploring new therapies for breast cancer and to studying Sutent as a treatment for other solid tumors".

The New- York based company commented that it will be persistent in looking forward to ways to treat prostate, breast and Ewing's sarcoma with the help of figitumamab although no recent success was delivered by the researches it undertook.

The outcome of the failure rate of Pfizer in its researches also crept into the stock-market performance.

The company's stock on the New the New York Stock Exchange stood at $17.08, which ruined the expectations of investors.