NEW YORK - Pfizer Inc. (NYSE: NYSE:PFE) has identified a promising once-daily modified release formulation of danuglipron, an investigational oral glucagon-like peptide-1 (GLP-1) receptor agonist, following encouraging results from a pharmacokinetic study. The company is set to proceed with dose optimization studies for this formulation in the latter half of 2024, which will inform the subsequent registration enabling studies.
Danuglipron is at the forefront of Pfizer's efforts in the obesity treatment space, with the company maintaining a robust pipeline that includes three clinical and several pre-clinical candidates. Mikael Dolsten, Chief Scientific Officer & President of Pfizer Research and Development, expressed optimism about the once-daily formulation's potential to compete in the oral GLP-1 market. The focus is on advancing a competitive molecule that can meet the ongoing medical needs of individuals with obesity.
The ongoing study, which includes over 1,400 participants, is evaluating the pharmacokinetics and safety of both immediate and modified release versions of danuglipron. Results to date indicate a pharmacokinetic profile that supports once-daily dosing and a safety profile consistent with previous studies of the drug.
Danuglipron, which is not yet approved for use, is designed to regulate blood sugar levels by increasing insulin release and may also slow digestion and enhance satiety, potentially aiding in weight loss.
Pfizer, a leader in biopharmaceutical innovation, aims to extend and significantly improve lives through the development and manufacture of healthcare products. The company's commitment spans over 175 years of working to make a difference for those who depend on its treatments.
This news article is based on a press release statement from Pfizer Inc.
In other recent news, Pfizer has initiated a search for a new Chief Scientific Officer following the announcement of Dr. Mikael Dolsten's planned departure. The company has assured a smooth transition, with Dr. Dolsten remaining until at least February 2025. Pfizer is also facing a legal challenge as a Delaware judge denied an appeal from several drugmakers, including Pfizer, in a Zantac cancer case involving over 70,000 lawsuits.
On a positive note, Pfizer recently welcomed Cyrus Taraporevala to its Board of Directors. Taraporevala brings extensive experience in the financial sector, having previously served as President and CEO of State Street (NYSE:STT) Global Advisors. Jefferies, an investment banking firm, has maintained its Buy rating for Pfizer, citing promising results from the company's cardiovascular drug Tafamidis.
In another significant development, Pfizer, along with other major pharmaceutical and medical equipment companies, is implicated in a lawsuit alleging facilitation of terrorism through illegal financial contributions. The U.S. Supreme Court has directed a lower court to reassess the case. These are among the recent developments impacting Pfizer.
InvestingPro Insights
As Pfizer Inc. (NYSE: PFE) continues to innovate in the obesity treatment space with its promising once-daily modified release formulation of danuglipron, the company's financial health and market position remain key considerations for investors. With a robust market capitalization of $160.65 billion, Pfizer stands as a prominent player in the pharmaceuticals industry.
InvestingPro Data reveals that the company has a Price/Earnings (P/E) Ratio (Adjusted) of 33.1 for the last twelve months as of Q1 2024, reflecting investor expectations of future earnings growth. Moreover, the Dividend Yield as of the most recent data is notably high at 5.93%, showcasing Pfizer's commitment to returning value to shareholders. This commitment is further underscored by the fact that Pfizer has not only maintained dividend payments but has raised them for 54 consecutive years, a testament to its financial stability and shareholder-friendly approach.
InvestingPro Tips highlight that Pfizer is expected to grow its net income this year, which aligns with the company's strategic developments, including the advancement of danuglipron. Additionally, the company is recognized for its low price volatility, providing a relatively stable investment option in a sector that can be susceptible to market fluctuations.
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