Pfizer's (NYSE: PFE) Marketing Authorization Application for the drug candidate called etrasimod was recently accepted for review by the European Medicines Agency. The drug will likely be approved by the first half of 2024 to treat patients for moderately to severely active ulcerative colitis.

That's why now is a good time to look at the phase 3 clinical trial results for the drug and the European Union ulcerative colitis market to assess the indication's potential.

Ulcerative colitis is a form of inflammatory bowel disease (IBD) that causes persistent inflammation and damage to the gastrointestinal (GI) tract. As opposed to the other kind of IBD known as Crohn's disease, the effect of this condition is specifically limited to the colon and the rectum. Crohn's disease can affect any part of the GI tract, ranging from the mouth to the anus.

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Source Fool.com