Pfizer to discontinue development of twice-daily weight loss pill after experiencing high rates of adverse side effects
Pfizer’s efforts to secure a slice of the booming weight loss drug market took a hit on Friday when it announced it would stop developing the twice-daily version of its experimental weight loss pill following concerns about adverse side effects in a mid-stage clinical study.
Adverse Side Effects and Termination of Development
The decision to halt the development of the twice-daily version of the pill was attributed to concerns about high rates of adverse side effects, with a significant share of patients discontinuing the drug during the trial. Pfizer confirmed that the twice-daily danuglipron formulation will not progress to Phase 3 studies. However, Pfizer still plans to release phase two trial data on a once-a-day version of the drug in the first half of 2024.
Implications for Pfizer’s Market Position
The news is a setback for Pfizer’s ambitions to capture a share of the estimated $90 billion weight loss drug market, as the pharmaceutical giant tries to recover from falling demand for its Covid products and a 40% share price drop this year.
Pfizer’s twice-daily pill significantly lags behind the treatments offered by Eli Lilly and Novo Nordisk, which are developing more convenient pill versions of their blockbuster weight loss and diabetes injections.
Study Results and Future Developments
Pfizer’s phase two trial studied around 600 obese adults who did not have Type 2 diabetes. The drug, which mimics a hormone called GLP-1 in the stomach, showed statistically significant reductions in body weight. However, high rates of adverse events, including nausea, vomiting, and diarrhea, were observed among patients, leading to a large number stopping the drug.
The Future of Pfizer’s Weight Loss Drug
The news is disheartening for Pfizer, as it hopes to capture a portion of the weight loss drug market. The data from the phase two trial will be presented at a future scientific conference or published in a peer-reviewed journal.
Investor Pessimism and Future Expectations
The discontinuation of the twice-daily pill follows Pfizer’s decision to scrap a different once-daily drug earlier this year. The company is hoping that a once-daily version will be better tolerated and avoid the gastrointestinal side effects that have been seen as limiting in the twice-daily pill. However, the efficacy of the once-daily version will not be known until the mid-stage trial data is released next year.
The release of the drug is anticipated to meet essential needs, as more than 2 in 5 adults have obesity, while 1 in 11 adults have severe obesity, according to the National Institutes of Health.
I have over 10 years of experience in the field of cryptocurrency and blockchain technology. I have attended numerous conferences and events around the world, and my work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and Yahoo Finance.
