PFE said Friday it would not advance development of a twice daily oral weight loss drug because of its side effects. PFE stock fell in Friday trading, as the company said it would focus on a once-daily version of the drug.
In a news release on Friday, Pfizer reported that its twice-daily danuglipron exhibited a “statistically significant change” in body weight, but the results included elevated rates of adverse effects, such as nausea and vomiting. This setback deals a blow to Pfizer’s aspirations in the thriving market for GLP-1 weight-loss drugs. On the stock market, PFE stock experienced a 5% decline to 28.91.
The trial indicated weight loss of up to 13% at 32 weeks in adults with obesity, but a substantial portion of trial participants—up to 73%—experienced nausea, up to 47% reported vomiting, and 25% encountered diarrhea. Additionally, Pfizer noted a high discontinuation rate of over 50% in the trial.
In response to these findings, the company is shifting its focus to a once-daily version of the drug, with initial data expected in the first half of the upcoming year. a twice daily oral
“We believe an improved once-daily formulation of danuglipron could play an important role in the obesity treatment paradigm, and we will focus our efforts on gathering the data to understand its potential profile,” stated Pfizer Chief Scientific Officer Mikael Dolsten in the news release.
However, Pfizer had previously abandoned the development of a different once-daily weight-loss drug in June, named lotiglipron, due to its potential to cause elevated liver enzymes in some patients.
Pfizer is striving to develop its own GLP-1 drug to compete with existing products like Ozempic by Novo Nordisk (NVO) and Mounjaro by Eli Lilly (LLY).
PFE stock has experienced a more than 40% decline this year, influenced by decreasing sales of its Covid-19 products. In contrast, NOV has seen a 49% increase, and LLY has gained 63%, driven by growing sales and optimism about the substantial market potential of weight-loss drugs.