Ex. 99.1

                 Pfizer and Nektar Reach Agreement on Exubera(R)

New York, NY and San Carlos, CA, November 13, 2007 - Pfizer (NYSE: PFE) and
Nektar Therapeutics (NASDAQ: NKTR) announced today that the two companies have
resolved all outstanding contractual issues in connection with Exubera(R) and
Nektar's innovative Next Generation Inhaled Insulin (NGI) product currently in
Phase 1 clinical development.

Under the terms of the agreement, Nektar will receive a one-time payment of $135
million from Pfizer in satisfaction of all remaining obligations under existing
agreements relating to Exubera and NGI. In addition, in the event that a new
partner is selected, Pfizer has agreed to transfer its remaining rights and all
economic benefits for Exubera and NGI. This transfer of Pfizer's interests would
include the transfer of the Exubera New Drug Application and Investigational New
Drug Applications and all ex-U.S. regulatory filings and applications,
continuation of ongoing Exubera clinical trials and certain supply chain
transition activities.

Jeffrey B. Kindler, Chairman and Chief Executive Officer of Pfizer and Howard W.
Robin, President and Chief Executive Officer of Nektar issued the following
joint statement today:

"This agreement demonstrates the industry leadership of Pfizer and the company's
desire to work with world-class biotechnology partners like Nektar. The
agreement strengthens our relationship and demonstrates our ability to work
together to craft a solution that allows Nektar the ability to pursue additional
commercial opportunities for the Exubera and NGI inhaled insulin franchises.
Further, we look forward to advancing our joint development of PEGylated human
growth hormone therapy to treat short stature and growth problems."

About Pfizer
Pfizer Inc, founded in 1849, is dedicated to better health and greater access to
health care for people and their valued animals. Every day, approximately 90,000
colleagues in more than 150 countries work to discover, develop, manufacture and
deliver quality, safe and effective prescription medicines to patients.

About Nektar
Nektar Therapeutics is a biopharmaceutical company that develops and enables
differentiated therapeutics with its industry-leading PEGylation and pulmonary
drug development platforms. Nektar PEGylation and pulmonary technology,
expertise, and manufacturing capabilities have enabled ten approved products for
partners, which include the leading pharmaceutical and biotechnology companies.
Nektar also develops its own products by applying its PEGylation and pulmonary
technology platforms to existing medicines with the objective to enhance
performance, such as improving efficacy, safety and compliance.

This press release contains information that is subject to a number of risks and
uncertainties for Nektar including: (i) any future value received by Nektar for
Exubera and NGI depends on successfully securing a new collaboration partnership
for Exubera and NGI and there is a risk that such a partnership will not be
completed on a timely basis or at all, (ii) certain information set forth in a
Form 8-K filed today with the Securities and Exchange Commission (SEC), and
(iii) risks and uncertainties identified in Item 1A of our Risk Factors in our
Quarterly Report on Form 10-Q filed with the SEC on November 9, 2007.