Pfizer's Breast Cancer Drug Trial Deemed A Success
Pharmaceutical giant Pfizer has produced a new breast cancer drug which has generated successful results in clinical trial. The drug’s name is Palbociclib, and the company has invested heavily in its development. Pfizer estimates that the drug could net about $5 billion each year once in production. Palbociclib has already had a noticeable effect on the company stock, with prices up 1% after the news of its Phase 2 trials success. The drug is administered orally, and it is expected to give breast cancer patients a new way to face what has long been a devastating disease.
The FDA has already named Palbociclib as a breakthrough drug, which indicates that the US agency believes that the treatment represents a major improvement over drugs and treatments already on the market. Palbociclib’s breakthrough status also means that it will get a streamlined approval process from the federal government which includes a lower number of future trials before the drug can hit the market.
While Palbociclib is a promising drug treatment, Pfizer still will face competition from other pharmaceutical companies developing similar drugs, including Novartis AG and Eli Lilly & Co. This provides gives incentive to Pfizer to attempt to pass the trial stage as quickly as possible and move into production and distribution. If Pfizer can beat Novartis and Eli Lilly to the market, they’ll possibly be able to sell Palbociclib without comparable competition for a limited period.