Pfizer to discontinue twice-daily weight loss pill due to high rates of adverse side effects
Publishing timestamp: 2023-12-01 11:45:17
Summary
Pfizer will stop developing a twice-daily version of its weight loss pill due to tolerability issues, but still plans to release data on the once-a-day version in 2024. The decision is a blow to Pfizer's hopes of capturing a share of the booming weight loss drug market. The company's stock dropped 5% after the announcement, and analysts are skeptical about the potential success of the once-daily version compared to competitors like Eli Lilly and Novo Nordisk. Pfizer's pill showed weight loss results, but high rates of adverse side effects led to many patients discontinuing the treatment. Wall Street was expecting more significant weight loss results from the pill.
Sentiment: MIXED
Keywords: business news, breaking news: business, novo nordisk a/s, biotechnology, pharmaceuticals, weight management, health care industry, clinical trials, diabetes, business, biotech and pharmaceuticals, pfizer inc, lilly drn, science,
Source: https://www.cnbc.com/2023/12/01/pfizer-to-discontinue-twice-daily-version-of-weight-loss-pill.html