Pfizer announced on Friday that it will stop pursuing the twice-daily version of its experimental weight loss pill after obese patients in a mid-stage clinical study reported significant weight loss but had difficulty tolerating the drug due to high rates of mild and gastrointestinal side effects. The pharmaceutical giant’s decision comes after it observed that a significant number of patients also stopped taking the pill. The twice-daily danuglipron formulation will not advance into Phase 3 studies, the company said.
However, Pfizer still plans to release data on a once-a-day version of the drug in the first half of 2024. A decision about whether to start a phase three study on the once-daily pill will be based on this data. In response, Pfizer’s stock closed 5% lower after the announcement of the trial results, marking a significant blow to the company’s hopes to secure a portion of the $10 billion weight loss drug market.
The phase two trial on Pfizer’s twice-daily pill followed approximately 600 obese adults, and the drug demonstrated statistically significant reductions in body weight. Specifically, patients who took the pill twice a day lost an average of 6.9% to 11.7% of their body weight at 32 weeks. However, high rates of adverse events were observed among patients in the study, with nausea, vomiting, and diarrhea being the most commonly reported side effects, causing more than 50% of patients to stop taking the pill.
Pfizer’s decision to discontinue the development of the twice-daily drug is a setback for the company’s attempt to gain ground in the weight loss drug market. Wall Street analysts have been skeptical of Pfizer’s potential to compete with dominant players Eli Lilly and Novo Nordisk, and the company’s shares closed 5% lower after the announcement of the trial results.
It appears that Pfizer still has hope for the once-daily version of the drug which they believe could improve patient tolerability. However, the results of the twice-daily drug have put Pfizer behind other major players in the weight loss drug market. Hopefully, Pfizer’s once-daily version of danuglipron will prove more successful than its twice-daily counterpart.
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