Pfizer's Ibrance Closer to getting approval for a new class of Cancer Medicines
Market analysts believe that Pfizer's Ibrance, the first in a new class of cancer medicines, appears all poised for approval to treat advanced breast cancer in just a span of few months and at this pace it could soon become a blockbuster drug.
On Thursday, as the analysts' forecast was out stating that it is very much likely that the US Food and Drug Administration could approve Ibrance much before its April 13 target decision date, the shares of Pfizer shares rose 70 cents, or 2.2%, to $32.56.
It has been noticed in the recent years, the FDA has rejected many experimental drugs by stating that they require additional data and new rounds of patient testing. But the same has not been the case with Ibrance. This is so as the FDA gave Ibrance priority review, part of its strategy to get potential breakthroughs to patients faster.
Pfizer stated that it already started discussing with the FDA staff what should be the label of the detailed package for the drug. It is very much likely that they would give Pfizer more of a head-start on rivals in earlier stages of testing their own experimental drugs in the class, called CDK4/6 inhibitors.
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