Pfizer Inc (NYSE:PFE, ETR:PFE) announced it will discontinue the development of its experimental weight-loss pill, danuglipron, due to safety concerns.
The company said on Monday that the decision comes after a clinical trial participant experienced a potential drug-induced liver injury, which resolved after stopping the medication.
“While we are disappointed to discontinue the development of danuglipron, we remain committed to evaluating and advancing promising programs in an effort to bring innovative new medicines to patients,” Pfizer chief scientific officer and president of research and development Dr Chris Boshoff said in a statement.
“Cardiovascular and metabolic diseases including obesity remain important areas of unmet medical need, and we plan to continue applying our global capabilities to advance a pipeline of investigational treatments that have the potential to fill critical gaps in patient care, including continued development of our oral GIPR antagonist candidate and other earlier obesity programs.”
Data from the danuglipron clinical development program will be presented at a scientific forum or submitted for publication in a peer review journal in the future, Pfizer said.
This is another setback for Pfizer as it seeks to compete in the lucrative obesity drug market dominated by injectable treatments from Novo Nordisk and Eli Lilly. The company abandoned a twice-daily version of danuglipron in 2023 due to tolerability issues, including nausea and vomiting.
Shares of Pfizer were unchanged on the announcement, trading hands premarket just shy of $22 each. The stock is down 17.4% in the year to date.
Rival Novo Nordisk (NYSE:NVO) saw its shares gain 2.8% premarket, while Eli Lilly and Co (NYSE:LLY) added 2.3%.
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