Pfizer's Ibrance Gets FDA Approval for Breast Cancer in Men
Pfizer, Inc.’s PFE blockbuster medicine Ibrance gained FDA approval for the treatment of breast cancer in men, thereby expanding the drug’s eligible patient population.
Ibrance, CDK 4/6 inhibitor, can now be prescribed in combination with an aromatase inhibitor or AstraZeneca’s AZN Faslodex (fulvestrant) for the treatment of men with HR+, HER2- metastatic breast cancer. The approval for the expanded indication is based predominately on real-world data, a new approach to expanding the use of already approved innovative medicines.
Ibrance has been generating strong sales and is a key driver of the company’s top line. The drug generated sales of $4.1 billion in 2018. With the expanded label, the drug should bring in more sales
Shares of Pfizer have declined 2% so far this year against the industry’s 4.4% increase.
Ibrance is a key drug in Pfizer’s oncology portfolio. The company is exploring the possibility of expanding Ibrance into recurrent and subsequent early breast cancer as well as several non-breast cancer indications like pancreatic and head and neck cancers.
However, competition in the breast cancer market has risen with launch of Eli Lilly’s LLY Verzenio and Novartis’ NVS Kisqali in the past couple of years. Nonetheless, in key markets like the United States, Europe and Japan, Ibrance has maintained greater than 90% share of total CDK inhibitors class volume despite rising competition,.
Pfizer currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
In-Depth Zacks Research for the Tickers Above Normally $25 each - click below to receive one report FREE:
Novartis AG (NVS) : Free Stock Analysis Report
Eli Lilly and Company (LLY) : Free Stock Analysis Report
Pfizer Inc. (PFE) : Free Stock Analysis Report
AstraZeneca PLC (AZN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
