Pfizer's Latest Ozempic Competitor Just Flopped (Again). Is the Stock Still a Buy?
On Dec. 1, Pfizer (NYSE: PFE) reported some less-than-great news to investors. In short, its latest attempt at developing a drug to compete with Novo Nordisk's blockbuster medicine Ozempic will not be advancing into late-stage clinical trials. Now, the company's bid to capture portions of the extremely lucrative type 2 diabetes and obesity drug markets looks like it's in trouble.
Is this latest difficulty a sign that investors should look elsewhere for growth, or is it merely a patch of bad weather that'll soon abate? Let's break down exactly what happened, and think about why it matters in the larger context.
In its original conception, Pfizer's candidate, danuglipron, was intended to be a pill that people took twice per day to help with weight loss as well as maintaining their appropriate blood glucose level. In technical terms, the drug is a glucagon-like peptide-1 receptor agonist (GLP-1RA).
Source Fool.com
Pfizer Inc. Stock
The stock is one of the favorites of our community with 31 Buy predictions and 4 Sell predictions.
As a result the target price of 41 € shows a very positive potential of 60.0% compared to the current price of 25.63 € for Pfizer Inc..
