Pfizer Oncology Drug Tukysa Shows Promise in Breast Cancer Trial
Positive Phase 3 data for the Seagen-acquired drug offers a key pipeline victory as the pharmaceutical giant navigates its post-COVID strategy.
Pfizer Inc. (PFE) reported positive results from a late-stage clinical trial for its cancer drug Tukysa, a significant development for the company's growing oncology division as it seeks to offset declining revenues from its COVID-19 products.
In a pivotal Phase 3 study, Tukysa, when added to the current standard of care, demonstrated a statistically significant improvement in progression-free survival for patients with HER2-positive metastatic breast cancer. The combination therapy prolonged the time without the disease worsening by a median of 8.6 months compared to the standard treatment alone, a clinically meaningful benefit for this patient population.
Shares of Pfizer saw a modest rise in Tuesday trading, climbing 0.73% to $25.51. The market's measured reaction reflects investor optimism for the pipeline news, balanced against the broader challenges the company faces in its strategic transition.
This clinical success is a crucial validation for Pfizer's massive $43 billion acquisition of Seagen last year, the deal which brought Tukysa into its portfolio. The acquisition was the cornerstone of Pfizer's strategy to pivot toward cancer treatments as a primary long-term growth driver. The company is betting on high-margin specialty drugs, particularly in oncology, to reshape its business following the sharp decline in sales of its COVID-19 vaccine and Paxlovid antiviral treatment.
“These results underscore the importance of our investment in Seagen and the potential of our expanded oncology pipeline to deliver breakthroughs for patients,” a company spokesperson might state in such a situation. The positive data from the HER2-CLIMB-05 trial could support expanding Tukysa's use as a first-line treatment, significantly increasing its market potential.
The news provides a much-needed tailwind for Pfizer, which has been implementing a multi-billion dollar cost-cutting program to align its operations with lower post-pandemic revenue forecasts. Just this week, Bloomberg reported the company was cutting hundreds of jobs in Switzerland as part of this ongoing efficiency initiative.
The competitive landscape for breast cancer treatments remains intense. Swiss pharmaceutical giant Roche has long been a dominant player with established therapies like Herceptin and Kadcyla. Recent studies from Roche on its own oral treatment also show promise in preventing cancer recurrence, highlighting the high bar for innovation in the field.
Pfizer plans to share the detailed findings from the Tukysa trial at an upcoming medical conference and will begin discussions with regulatory authorities, including the U.S. Food and Drug Administration (FDA), for a potential label expansion. Investors will be closely watching for the next steps, including regulatory filings and the potential for Tukysa to become a new standard of care, which would be a critical step in justifying the premium paid for Seagen and solidifying Pfizer's future in oncology.