Pfizer Just Canned One of Its Ozempic Killers. What's Next?
On June 26, Pfizer (NYSE: PFE) gave investors an update that they probably didn't like. One of its two candidates for treating diabetes and obesity, called lotiglipron, will not be developed any further because of safety concerns revealed in both its phase 1 and phase 2 clinical trials.
While the company still has one program for the highly lucrative set of indications in development, it's now undeniably on the back foot compared to competitors like Novo Nordisk (NYSE: NVO) and Eli Lilly (NYSE: LLY), which are already securing massive market shares with their diabetes and obesity medicines Ozempic and Mounjaro, respectively.
But can it recover from this setback, or are the other players guaranteed to win in these rapidly growing markets?
Source Fool.com
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