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Pfizer Breast Cancer Drug Hits Midstage Study Goal

Mon, 02/03/2014 - 1:27pm
The Associated Press

NEW YORK (AP) — Pfizer says a midstage study of its experimental drug for advanced breast cancer, palbociclib (pal-boh-SEYE'-clib), met the main goals.

The world's second-biggest drugmaker says its drug, combined with another medicine called letrozole (LET'-rah-zole), increased the time patients survived without tumors growing, compared with women just getting letrozole.

Pfizer shares jumped 99 cents, or 3.3 percent, to $31.40 in late-morning trading.

Analysts are closely watching palbociclib, which is for postmenopausal women with certain tumor characteristics found in about 60 percent of patients with advanced breast cancer. It's seen as a potential huge seller.

New York-based Pfizer is now enrolling patients in a late-stage test of palbociclib. Last April, the Food and Drug Administration designated it a breakthrough therapy, a recognition that helps speed up the review needed for approval.

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