Pfizer Halts Development of Weight Loss Pill Due to Adverse Side Effects

Pfizer, the pharmaceutical giant, has decided to discontinue an experimental weight loss pill due to high rates of adverse side effects. This news comes as a blow to Pfizer’s hopes of gaining a significant share of the booming weight loss drug market, which CEO Albert Bourla believed could grow to a whopping $90 billion. While the drugmaker observed that obese patients taking the drug did experience weight loss, they also faced difficulties tolerating the medication during a mid-stage clinical study. The adverse side effects reported were predominantly mild and gastrointestinal in nature. Additionally, a significant number of patients discontinued the use of the pill. Pfizer has stated that the twice-daily version of the drug will not be advancing into Phase 3 studies at this time. However, the company still plans to release data on a once-a-day version of the weight loss pill in the first half of 2024, which will guide their decision on whether to proceed with a phase three study. Wall Street views the once-daily pill as the more promising and competitive form of the treatment. Following the announcement of the trial results, Pfizer’s shares closed 5% lower on Friday. This latest setback adds to Pfizer’s challenges, as the demand for their experimental COVID-19 shots has seen a decline recently. The pharmaceutical company remains committed to the development of an improved once-daily formulation of the weight loss pill, believing it could play a crucial role in obesity treatment. Pfizer aims to gather more data to better understand the potential profile and optimize both the study design and execution. Interested parties can expect data on the once-daily version of the pill to be released in 2024. While this discontinuation is disappointing for Pfizer, it highlights their commitment to prioritizing patient safety and their ongoing efforts to develop effective treatments for obesity.