Pfizer's stock price once surged by 6% in a straight line, targeting oral weight-loss miracle drugs
The weight loss drug market is in short supply, and Pfizer, as a new player, is expected to get a piece of the pie. Goldman Sachs: By 2030, the weight loss drug market is expected to reach $100 billion
Pfizer's US stocks surged 6% in pre-market trading. Reports indicate that Pfizer is advancing the development of a daily weight-loss drug and will conduct dose optimization studies in the second half of the year.
The news release on Pfizer's official website is as follows:
Pfizer stated that it will conduct research on an improved version of its experimental obesity drug danuglipron in the second half of 2024.
Last year, Pfizer announced that due to concerns about liver safety, it abandoned a once-daily pill and shifted its focus to the development of danuglipron. Pfizer is testing a once-daily modified release formulation of danuglipron, as well as a twice-daily formulation.
Previously, Novo Nordisk and Eli Lilly, the largest players in the weight-loss drug market, are currently facing supply shortages, and both companies are looking for ways to expand production capacity.
As a newcomer disrupting the market, Pfizer is expected to get a piece of the pie. Goldman Sachs previously estimated that the weight-loss drug market will reach $100 billion by 2030.
The entire weight-loss concept stock sector has risen by 44.9% year-to-date in 2024.