Pfizer, Inc.’s (NYSE:PFE) blockbuster medicine Ibrance gained FDA approval for the treatment of breast cancer in men, thereby expanding the drug’s eligible patient population.
Ibrance, CDK 4/6 inhibitor, can now be prescribed in combination with an aromatase inhibitor or AstraZeneca’s (NYSE:AZN) Faslodex (fulvestrant) for the treatment of men with HR+, HER2- metastatic breast cancer. The approval for the expanded indication is based predominately on real-world data, a new approach to expanding the use of already approved innovative medicines.
Ibrance has been generating strong sales and is a key driver of the company’s top line. The drug generated sales of $4.1 billion in 2018. With the expanded label, the drug should bring in more sales
Shares of Pfizer have declined 2% so far this year against the industry’s 4.4% increase.
Ibrance is a key drug in Pfizer’s oncology portfolio. The company is exploring the possibility of expanding Ibrance into recurrent and subsequent early breast cancer as well as several non-breast cancer indications like pancreatic and head and neck cancers.
However, competition in the breast cancer market has risen with launch of Eli Lilly’s (NYSE:LLY) Verzenio and Novartis’ (NYSE:NVS) Kisqali in the past couple of years. Nonetheless, in key markets like the United States, Europe and Japan, Ibrance has maintained greater than 90% share of total CDK inhibitors class volume despite rising competition,.
Pfizer currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Pfizer Inc. (PFE): Free Stock Analysis Report
AstraZeneca PLC (AZN): Free Stock Analysis Report
Eli Lilly and Company (LLY): Free Stock Analysis Report
Novartis AG (NVS): Free Stock Analysis Report
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