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CHICAGO — Pfizer on Friday said its drug for an advanced form of lung cancer showed promising long-term results in a late-stage trial, which may help establish it as the new standard treatment for the condition. The drug, called Lorbrena, also cut the risk of the cancer progressing in patients' brains. Only about 5% of all non-small cell lung cancer patients have the mutation, which causes cancer cells to grow and spread abnormally. But Pfizer's drug isn't currently considered the standard – or the most appropriate and widely used – treatment for the condition. Nearly 300 people in the trial either received Lorbrena or Pfizer's older lung cancer drug Xalkori.
Persons: isn't, Chris Boshoff, Lorbrena, David Spigel, Sarah Cannon, Spigel, Andrew Berens, Pfizer's Boshoff Organizations: CHICAGO, Pfizer, CNBC, Lorbrena's, American Society of Clinical Oncology, Clinical Oncology, Sarah, Sarah Cannon Research Institute, Lorbrena, Leerink Locations: U.S, Chicago
Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.
Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California
Pfizer is betting big on cancer treatments. On Monday, the company said that it was acquiring Seagen in a $43 billion deal. Seagen sells four cancer drugs and is expected to bring in $2.2 billion in revenue this year. Seagen is expected to bring in $2.2 billion in revenue this year, and Pfizer said that figure could reach $10 billion in 2030. Pfizer said that the deal would double the number of early-stage cancer treatments that the company is testing.
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