The success of drug developers hinges on regulatory approvals for their medications. Considering that, it was hardly surprising that (NYSE: PFE) stock had a good Monday on the market. Following its latest Food and Drug Administration (FDA) nod, the company's shares closed the day 1.6% higher, topping the S 500 index's 0.5% rise.

That morning, Pfizer divulged that the FDA approved Padcev, the cancer drug developed with Japan's Astellas Pharma, to treat bladder cancer. Padcev has won the nod as part of a first-line combination therapy with Keytruda, Merck's blockbuster cancer drug.

The FDA's approval is based on the results of a phase 3 clinical trial of the two drugs used in combination. These demonstrated that taken together, the pair lowered the risk of death by 53% in patients with previously untreated bladder cancer, when compared to traditional chemotherapy.

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Source Fool.com