Pfizer Abandons Its Leading Weight Loss Candidate. Should You Sell the Stock?
Although it isn't the largest therapeutic area in the pharmaceutical industry, the market for weight loss therapies has caught fire in recent years. The leading medicines in this field include household names such as Wegovy and Zepbound, two drugs whose sales are rapidly growing.Their success has attracted the attention of other major drugmakers, including Pfizer (NYSE: PFE), which has been looking to dip its toes into this area. Unfortunately, recent developments make Pfizer's prospects in the weight loss market unattractive. Let's dig more into them and discuss what they mean for investors.Pfizer has encountered many setbacks in its quest to launch a medicine that could rival Wegovy and Zepbound. One of its candidates was called lotiglipron, an investigational oral GLP-1 pill it discontinued after phase 1 studies due to its potentially causing liver problems.Continue reading
Although it isn't the largest therapeutic area in the pharmaceutical industry, the market for weight loss therapies has caught fire in recent years. The leading medicines in this field include household names such as Wegovy and Zepbound, two drugs whose sales are rapidly growing.
Their success has attracted the attention of other major drugmakers, including Pfizer (NYSE: PFE), which has been looking to dip its toes into this area. Unfortunately, recent developments make Pfizer's prospects in the weight loss market unattractive. Let's dig more into them and discuss what they mean for investors.
Pfizer has encountered many setbacks in its quest to launch a medicine that could rival Wegovy and Zepbound. One of its candidates was called lotiglipron, an investigational oral GLP-1 pill it discontinued after phase 1 studies due to its potentially causing liver problems.