After failing a previous phase 3 trial, figitumumab was a No. 16 seed coming into the trial. Still, upsets are always possible ... it's anyone's game at this level ... and you can insert your own sports metaphor here.
Pfizer was testing figitumumab in combination with Roche and OSI Pharmaceuticals'
Pfizer's Sutent, on the other hand, has made it to the Elite Eight. The drug is already approved to treat both kidney and gastrointestinal cancer and has been shown to work on pancreatic cancer as well. Expanding into breast cancer would have added substantial sales to the nearly $1 billion it brought in last year, but it wasn't meant to be. Pfizer announced that it was stopping two trials yesterday: one testing Sutent in combination with sanofi-aventis'
Sutent had failed a couple of trials for breast cancer, but those were head-to-head trials against current therapies: Xeloda in one trial and Roche's Avastin plus Bristol-Myers Squibb's
Fortunately, Pfizer has a large pipeline; with the addition of Wyeth, its 34 (now 31) phase 3 programs could fill out half a bracket all on its own. The loss of a few programs won't kill Pfizer, but it sure would be nice to see it sink a few baskets soon.
By comparison, Pfizer's March has nothing on the tech bubble burst.
Pfizer is a recommendation of the Inside Value newsletter. If you're interested in picking through the wreckage for possible turnaround candidates, you should have the Inside Value team on your side. Check it out for free with a 30-day trial.
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