Major product developments
As we’ve already seen, Pfizer’s (PFE) Innovative Health business and Essential Health business are focused on growth. To strengthen its Innovative Health business, Pfizer is focused on developing new drugs as well as expanding the market reach of existing products.
Let’s look now at some major developments in Pfizer’s product portfolio.
Below are some of Pfizer’s recent product developments:
- In December 2016, the FDA (U.S. Food and Drug Administration) approved the removal of the boxed warning from Chantix in US markets, based on data from EAGLES (Evaluating Adverse Events in a Global Smoking Cessation Study).
- The FDA approved Eucrisa, a nonsteroidal topical PDE-4 (phosphodiesterase type 4) inhibitor for the treatment of mild-to-moderate atopic dermatitis, generally called eczema, in ages two years and older.
- The FDA accepted the review of the supplemental New Drug Application for Ibrance as a combination drug with letrozole for the treatment of women with ER+ (estrogen receptor positive) and HER2 (human epidermal growth factor receptor 2) metastatic breast cancer. The review is based on data from PALOMA-2, a Phase 3 study.
- The FDA accepted for filing the BLA (Biologics License Application) for Mylotarg in January 2017. In December 2016, the European Medicines Agency validated for review the Marketing Authorization Application for Mylotarg.
- The European Commission approved Nimenrix for active immunization against invasive meningococcal disease in December 2016.
- In December 2016, Pfizer resubmitted the BLA to the FDA for Retacrit, a proposed biosimilar of Amgen’s (AMGN) Epogen and Johnson & Johnson’s (JNJ) Procrit.
- In January 2017, the European Medicines Agency’s CHMP (Committee for Medicinal Products for Human Use) adopted a positive opinion for the use of Xeljanz in the treatment of patients with rheumatoid arthritis.
You can consider ETFs such as the Vanguard Health Care ETF (VHT), which holds ~6.4% of its total assets in Pfizer. It also holds ~2.7% in Allergan (AGN), ~10.3% in Johnson & Johnson (JNJ), ~3.1% in Gilead Sciences (GILD), and ~3.3% in AbbVie (ABBV).