Pfizer announced on Thursday that it is progressing with the development of an oral weight loss pill called danuglipron. The decision comes after the pharmaceutical company received promising data from an early-stage trial, signaling a significant step towards entering the competitive obesity drug market. The move is aimed at challenging popular weight loss injections like Wegovy and Zepbound.
The company revealed that it had evaluated several once-daily formulations of danuglipron and selected the most favorable one to advance to mid-stage trials. Pfizer expressed optimism about the candidate's potential and stated that it had seen encouraging results from the ongoing early-stage trial.
During the early-stage trial, Pfizer tested four different formulations of the once-daily pill on 20 healthy adults aged 18 and over. The company plans to determine the optimal dose for the pill in the second half of 2024 and explore multiple options.
Pfizer's chief scientific officer and president for research and development, Mikael Dolsten, believes that the once-daily formulation of danuglipron has the potential to be competitive in the oral GLP-1 space. Following the announcement, Pfizer's shares rose by nearly 2% during premarket trading.
Despite the positive developments, it is important to note that danuglipron is still undergoing early-stage clinical trials, and it will likely be several years before the pill becomes available to consumers. Pfizer must navigate mid-stage and late-stage trials, as well as obtain regulatory approval, which could be a lengthy process.
The weight loss drug market is currently dominated by Novo Nordisk and Eli Lilly, making it a challenging sector for new entrants like Pfizer. However, the potential for significant growth in the market has attracted various pharmaceutical companies racing to introduce their own weight loss drugs. Analysts estimate that the market could be worth over $100 billion by the end of the decade, creating a lucrative opportunity for firms that can offer innovative and effective solutions.