Pfizer Advances Once-Daily Weight Loss Pill
![Pfizer Advances Once-Daily Weight Loss Pill](/content/images/size/w1200/2024/07/a9402acc-7fd6-48fe-bd62-d2cb9df9b52b.png)
Pfizer plans to advance a once-daily version of its obesity pill, danuglipron, into clinical trials in the second half of this year. This decision follows encouraging data from early-stage trials, despite previously discontinuing a twice-daily version due to patient safety concerns, including issues with liver enzymes. The new formulation aims to offer a more convenient alternative to injections and is part of a broader effort among pharmaceutical companies, including Eli Lilly and Novo Nordisk, to develop second-generation weight loss pills.
Following the announcement, Pfizer's shares rose by 5% in premarket trading. Analysts predict the weight loss drug market could exceed $150 billion in annual sales by the early 2030s. However, Pfizer's stock has seen a significant decline since December 2021, largely due to decreased sales of its COVID-19 vaccine and pill, as well as investor concerns over its drug development pipeline. Additionally, Pfizer announced that Chief Scientific Officer Mikael Dolsten will step down after more than 15 years with the company.