Pfizer Abandons Twice-Daily Weight Loss Pill After Trial Results
Pfizer announced on Friday that it would discontinue developing the twice-daily version of its experimental weight loss pill. The decision followed a mid-stage clinical study that showed obese patients taking the drug experienced weight loss but grappled with intolerable side effects. This move has set back the pharmaceutical giant’s aim of gaining a considerable market share in the ever-expanding weight loss drug market, which Pfizer’s CEO had estimated to be worth $90 billion. The setback led to a 4% drop in Pfizer’s stock price during pre-market trading on Friday.
While the company plans to halt the development of the twice-daily pill, Pfizer intends to release phase two trial data on the once-a-day version of the drug, known as danuglipron, in the first half of 2024. Wall Street is anticipating this data to determine whether Pfizer will push for a phase three study on the once-daily version, which is considered a more competitive form compared to the abandoned twice-daily version.
However, Pfizer’s decision to cease developing the planned twice-daily drug has fueled doubts among investors regarding Pfizer’s potential in the weight loss drug market. This is compounded by Pfizer’s previous scrapping of a once-daily weight loss pill, leaving the company with less attractive alternatives such as danuglipron. Moreover, Pfizer’s more established rivals, Eli Lilly and Novo Nordisk, are already making significant strides in developing convenient versions of their existing weight loss drug offerings.
Pfizer’s phase two trial analyzed nearly 600 obese adults and found that the drug, modeled after a hormone called GLP-1, could yield significant weight loss ranging from 6.9% to 11.7% at 32 weeks, and from 4.8% to 9.4% at 26 weeks. However, the trial also reported a high incidence of mild and gastrointestinal adverse side effects, leading to patient discontinuation rates of more than 50%. The mentioned side effects include nausea, vomiting, and diarrhea.
The data has left analysts anticipating that Pfizer’s once-daily version of the drug may be better tolerated by patients compared to the discontinued twice-daily pill. Nonetheless, it remains to be seen whether the once-a-day form would address the gastrointestinal side effects that hindered the twice-daily version. As the weight loss achieved by the twice-daily pill fell short of expectations, it remains to be seen whether Pfizer can meet the weight reduction levels set by its competitors to be competitive in the evolving weight loss drug market.
In summary, Pfizer’s decision to abandon its twice-daily experimental weight loss pill due to side effects has cast a shadow over the company’s prospects in the weight loss drug market, emphasizing the need for a more effective and intolerable side effect-free drug.
