Pfizer's breast cancer drug Ibrance fails late-stage study
(Reuters) - Pfizer Inc said on Friday its cancer drug Ibrance failed to meet its main target in a late-stage study in patients with one type of breast cancer. This is the most recent setback in the company's attempt to expand the drug's use to treat early stages of the disease.
The latest development comes after an independent data monitoring committee said in May that a similar study comparing Ibrance plus endocrine therapy with stand-alone endocrine therapy for the treatment of early-stage breast cancer is unlikely to meet its primary goal.
Ibrance is already approved in the US for the treatment of certain adult patients with advanced breast cancer that has spread to other parts of the body. The drug has not yet been approved for the treatment of early stages of the disease.
This puts the drug at a disadvantage compared to rivals Eli Lilly and Co, who released data in June showing that the drug Verzenio met the study goal of reducing the risk of early-stage breast cancer recurring.
"Based on today's data, Lillys Verzenio is the clear winner in the adjuvant space for now, which gives Verzenio a blockbuster opportunity for a potential early breast cancer indication," said Louise Chen, analyst at Cantor Fitzgerald.
In the late-stage study, Ibrance failed to meet its main goal of extending patients' survival time without their cancer returning.
Lilly's shares rose 1% to $ 155.10 prior to trading, while Pfizer's shares were unchanged at $ 36.90.
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Shailesh Kuber and Shounak Dasgupta)
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