In February, Pfizer announced encouraging results for palbociclib with statistically significant and clinically meaningful improvement in progression-free survival (PFS) for women with a certain type of advance breast cancer in a mid-stage, or phase III, study.
A decade ago, Pfizer, then the world’s largest drug company, sold three of the 10 biggest-grossing medicines in the United States. Now, it doesn’t boast one. Wall Street analysts think a study of a breast cancer medicine being presented at a medical meeting in San Diego on Sunday could give the drug giant its best chance of changing that fact.
Pfizer announced on February 3 that the medicine, palbociclib, had demonstrated a “statistically significant and clinically meaningful improvement in progression-free survival (PFS)” for women with a certain type of advance breast cancer in a mid-stage, or phase III, study. Mace Rothenberg, a Pfizer senior vice president in charge of testing oncology drugs, said in a press release that the company was “delighted with the final data.”
That press release has Wall Street analysts hoping that Pfizer could file with the Food and Drug Administration to have the drug approved based on this study, widening the company’s lead on a similar compound from Novartis that is in the third and final stage of drug testing. And the opportunity is huge, with some analysts saying sales could eventually be as high as $10 billion. That means cancer researchers should expect a flood of Wall Streeters in dark suits at the annual meeting of the American Association for Cancer Research.
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