Pfizer Pushes Forward in Competitive Weight Loss Medication Market
$PFE
Pfizer (NYSE:PFE) is advancing its position in the weight loss drug market, targeting a space currently dominated by Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY). These companies have set the standard with incretin-based medications, such as Ozempic and Mounjaro, which help regulate blood sugar and reduce appetite. Analysts at Morgan Stanley project the global GLP-1 drug market could reach $105 billion by 2030, underscoring the sector’s growth potential.
To capitalize on this opportunity, Pfizer and other companies like Viking Therapeutics (NASDAQ:VKTX) and Amgen (NASDAQ:AMGN) are focusing on oral versions of incretin-based weight loss drugs. This approach aims to overcome limitations associated with injectable medications, which may deter some patients and create supply challenges. Pfizer’s lead oral candidate, danuglipron, has moved to clinical trials following adjustments to reduce side effects observed in initial tests.
Beyond danuglipron, Pfizer is evaluating two additional weight loss pills in early trials. One candidate is a once-daily GLP-1 pill in phase 1 testing, and another that blocks the gut hormone GIP is set to enter phase 2 trials. Chief Scientific Officer Mikael Dolsten highlighted that this GIP-blocking pill could improve both tolerability and efficacy.
Pfizer’s entry into the weight loss sector represents a strategic effort to address rising obesity rates globally. By pursuing innovative and potentially easier-to-administer oral treatments, Pfizer aims to enhance patient access to effective weight loss solutions. As clinical results are shared, with updates expected in early 2025, the weight loss medication market may soon see significant shifts.
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