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4-Traders Homepage  >  Equities  >  Nyse  >  Pfizer Inc       

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Pfizer Inc. : Study Shows Positive Results for Pfizer's Lyrica Treatment for Fibromyalgia

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11/19/2012 | 02:40pm CET
   By Saabira Chaudhuri 
 

Pfizer Inc. (>> Pfizer Inc.) said results of a late-stage study of its pregabalin controlled-release formulation as a treatment for fibromyalgia were positive.

The drug company said top-line results of a Phase 3 study evaluating pregabalin controlled-release formulation, also known as Lyrica, in patients with fibromyalgia indicated that it had a statistically significant positive effect compared with a placebo with regards to time to loss of therapeutic response.

Pfizer described fibromyalgia as a common pain condition in the U.S. affecting more than five million Americans and characterized by chronic widespread pain and tenderness lasting for three or more months.

The most recent study is the second of three Phase 3 studies of the pregabalin controlled-release formulation, which Pfizer said will determine the potential use of pregabalin as a once-a-day therapy.

Last week, Pfizer had revealed that a Phase 3 study showed Lyrica as a potential epilepsy treatment didn't meet the primary endpoint for a change in seizure frequency. Monday, the drug company noted that the final study in post-herpetic neuralgia is ongoing.

"Collectively, the results of these controlled-release studies will allow us to better understand the potential of a once-a-day pregabalin treatment regimen," said Steven J. Romano, head of Pfizer's Global Primary Care Business Unit's Medicines Development Group. "Reducing the number of times patients need to take their medicine per day while maintaining the same efficacy and safety profile could potentially provide a greater convenience and the potential to enhance treatment adherence and outcomes."

Shares edged up 12 cents to $23.98 in recent premarket trading. The stock has risen 22% in the past year.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Pfizer Inc.
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Financials ($)
Sales 2017 53 326 M
EBIT 2017 20 087 M
Net income 2017 12 686 M
Debt 2017 28 566 M
Yield 2017 3,72%
P/E ratio 2017 15,40
P/E ratio 2018 13,92
EV / Sales 2017 4,43x
EV / Sales 2018 4,16x
Capitalization 207 902 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 38,0 $
Spread / Average Target 11%
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Managers
NameTitle
Ian C. Read Chairman & Chief Executive Officer
Frank A. D'Amelio Chief Financial Officer & EVP-Business Operations
Freda C. Lewis-Hall Chief Medical Officer & Executive Vice President
Ole Isacson Chief Scientific Officer
W. Don Cornwell Independent Director
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