New York  - US pharmaceuticals giant Pfizer Inc. is closing out the early-stage development of at least 11 medications in order to focus on more profitable drugs, media reports said Tuesday.

The financial newswire Bloomberg cited a memo sent to employees on September 25 in which the world's largest drug company would be ending the early development work on treatments for a range of illnesses from obesity to heart disease.

In all, development was to be stopped on at least 11 drugs, among them six which were foreseen to treat obesity and heart disease and three for digestive disorders, according to the internal memo.

Pfizer is also will stop early-stage research in anemia, bone health, liver disease, muscle, obesity and some osteoarthritis compounds.

But the changes would not affect those drugs which were now in the final of three stages of testing required for US approval. Among these is the anti-clot drug apixaban being developed with Bristol- Myers Squibb Co.

Last February, Pfizer listed 102 drugs in development, including 47 in the first stage of testing and 37 in the second phase. Some 20 per cent of its research funding currently goes toward cancer.

The company says that the restructuring would not result in any plants, with many employees to be shifted to other areas of research. (dpa)