BioCentury
ARTICLE | Product Development

Ibrance failure in adjuvant breast cancer opens door for Novartis, Lilly

Pfizer sheds billions in valuation on Ibrance failure in early-stage breast cancer

June 1, 2020 10:53 PM UTC

The failure of Pfizer’s second-best-selling drug Ibrance in a pivotal trial as an adjuvant treatment for breast cancer opens a window for rival drugs in an indication that could have been a major growth opportunity for the pharma.

The miss shaved more than $15 billion from the market cap of Pfizer Inc. (NYSE:PFE), as shares fell $2.73 to $35.46 Monday. According to FactSet, analysts’ consensus estimate expected that peak sales could reach $3 billion annually in the adjuvant breast cancer setting for the CDK4/6 inhibitor, which delivered about $5 billion in 2019 sales. Pfizer’s top seller, its Prevnar 13 pneumococcal vaccine, had 2019 sales of $5.8 billion. ...

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