Pfizer on Tuesday released trial data on a high-profile obesity drug from its recent $10 billion Metsera purchase that raises questions about its tolerability for patients, and shares of the U.S. drugmaker fell 5%.
The drug, given as a monthly injection, showed sustained weight loss at 28 weeks, Pfizer said, adding that it is targeting 2028 for its first approval in the fast-growing weight-loss drug market. The company made the disclosure alongside reporting fourth-quarter earnings, which beat analysts’ estimates. The latest data sets the stage for a year in which Pfizer said it plans to advance more than 20 clinical trials involving obesity treatments, an area that one day could help it offset new competition for older drugs losing patent exclusivity.
“The foundation of our strategy in obesity and adjacent conditions is targeting breakthrough medicines in what could be a $150 billion market,” CEO Albert Bourla said. In a mid-stage trial, the treatment, known as PF-3944, led to up to 12.3% weight loss in patients without diabetes, with no plateau observed at week 28, the company said, adding that it expects the trend to continue through the 64-week study.
