Pfizer is planning to launch a once-a-day version of its weight-loss pill danuglipron, after scrapping a twice-daily version of the drug last year. The new drug is part of the second generation of weight-loss pills, offering patients a more convenient alternative to injections. Analysts expect the weight-loss drug market to exceed $150 billion in annual sales by the early 2030s.
The company did not provide a specific timeline for the development of the drug but plans to evaluate multiple doses of the reformulated drug before advancing it into clinical trials later this year. Pfizer decided to focus on the new version of danuglipron after patients dropped out of its midstage trial due to side effects like nausea and vomiting. The company had also eliminated another daily weight-loss drug, lotiglipron, over safety concerns.
JP Morgan analyst Chris Schott expressed concerns about side-effects from Pfizer’s drug and gave credit to Eli Lilly for having a significant time-to-market advantage. Schott believes there is a limited role for Pfizer’s asset until more information about the tolerability profile of the new formulation is available. Pfizer’s shares rose in premarket trading despite having lost value in recent months.
Pfizer indicated that early study results supported once-daily dosing of the drug, with no liver enzyme elevations observed in more than 1,400 healthy adult volunteers. The GLP-1s in the drug mimic the action of the GLP-1 hormone to regulate blood sugar, slow digestion, and suppress appetite. Other companies like Amgen and Viking Therapeutics are also working on next-generation weight loss drugs.
The decline in sales of Pfizer’s Covid-19 products has put pressure on CEO Albert Bourla to drive growth through newer drugs. The company announced that its chief scientific officer, Mikael Dolsten, will step down after more than 15 years with Pfizer. The move towards developing a more convenient weight-loss pill reflects Pfizer’s commitment to addressing the growing market demand for effective and user-friendly treatments for obesity.
