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<p class="has-drop-cap">Pharmaceutical giant Pfizer Inc. (NYSE: PFE) announced Thursday its decision to <a href="https://www.reuters.com/business/healthcare-pharmaceuticals/pfizer-moves-forward-with-once-daily-weight-loss-drug-2024-07-11/" target="_blank" aria-label="move forward (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">move forward</a> with the development of a once-daily version of its weight loss pill, danuglipron, sparking a positive response from investors. The company’s stock rose 1.90% to $28.89 in early trading today.</p> 
<h3 id="pfizer-s-weight-loss-pill-development">Pfizer’s Weight Loss Pill Development</h3> 
<p>Pfizer’s decision to continue developing danuglipron comes after “encouraging” data from an ongoing early-stage trial. The company identified a formulation with the most favorable safety profile and bodily reactions, paving the way for additional early-stage trials in the second half of 2024. Results from these trials are expected in the first quarter of 2025.</p> 
<p>Dr. Mikael Dolsten, Pfizer’s outgoing Chief Scientific Officer, expressed confidence in the drug’s potential, stating that the once-daily formulation could be competitive in the oral GLP-1 agonist space. This class of drugs, which includes Novo Nordisk’s popular Wegovy and Ozempic, has seen soaring demand for weight loss and diabetes treatment.</p> 
<p>The advancement of danuglipron represents a significant turnaround for Pfizer, which discontinued the twice-daily version of the drug in December due to tolerability issues. <br><br>Notably, no liver safety issues were observed in patients receiving the once-daily formulations, addressing a key concern that had previously hindered the company’s progress in this therapeutic area.</p> 
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<h3 id="pfizer-s-moment-in-the-glp-1-market">Pfizer’s Moment in the GLP-1 Market</h3> 
<p>This development keeps Pfizer in contention for a share of the projected $100 billion GLP-1 market, maintaining competitive pressure on market leaders Novo Nordisk and Eli Lilly (NYSE: LLY). <br><br>It also signals Pfizer’s strategy to focus on internal development rather than late-stage acquisitions, though the company may still consider licensing deals or acquiring earlier-stage weight loss drugs.</p> 
<p>The news has implications for Pfizer’s financial outlook and stock performance. While the company’s stock is up 3.39% year-to-date, it has underperformed <a href="https://tokenist.com/investing/spx-vs-spy/" rel="dofollow" class="deco-link">the S&amp;P 500’s 18.14% gain</a>. <br><br>Pfizer’s market capitalization stands at $163.702 billion, with a <a href="https://tokenist.com/investing/p-e-ratio/" rel="dofollow" class="deco-link">forward P/E ratio</a> of 12.30 and a dividend yield of 5.43%. However, the company reported negative <a href="https://tokenist.com/investing/how-to-value-a-stock/" class="deco-link">earnings per share</a> of $0.05 over the trailing twelve months, reflecting recent challenges. </p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em>s</p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/wall-street-weighs-in-as-pfizer-targets-100-billion-weight-loss-market/">Wall Street Weighs in as Pfizer Targets $100 Billion Weight Loss Market</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Wall Street Weighs in as Pfizer Targets $100 Billion Weight Loss Market

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