) recently presented disappointing top-line data from a phase III
study that was conducted to evaluate a once-daily dose of Lyrica
(pregabalin) in epilepsy patients.
The double-blind, placebo-controlled, randomized study was
conducted with two doses of Lyrica controlled release - 165 mg
and 330 mg. Results showed that Lyrica failed to meet the primary
endpoint of change in the frequency of seizures compared to
Pfizer is conducting two more phase III studies that are
evaluating the use of once-daily Lyrica. While one study is
evaluating once-daily Lyrica in fibromyalgia, the other is being
conducted in patients with post-herpetic neuralgia.
Lyrica, a key drug in Pfizer's product portfolio, has
experienced a very strong ramp since its introduction. Total
Lyrica sales in 2011 were $3.7 billion. The product is approved
in 120 countries and regions for indications like diabetic nerve
pain, pain after shingles, fibromyalgia and partial onset
seizures in adults with epilepsy who take one or more drugs for
seizures. Other players in the fibromyalgia market include
) Cymbalta and
Lyrica continues to perform well and we believe Lyrica has the
most potential within Pfizer's current product suite. Pfizer is
looking to expand Lyrica's label for additional indications.
We currently have a Neutral recommendation on Pfizer, which
carries a Zacks #3 Rank (short-term Hold rating). Pfizer is
currently facing generic competition for several of its products
including Lipitor, Geodon and Xalatan. These products are all
facing declining sales due to generic competition.
Pfizer has been looking to offset the impact of generic
competition by bringing new products to market. The company has
been focusing on the development of treatments in the fields of
oncology, cardiology, metabolic disorders, neuroscience,
immunology, inflammation and vaccines. These are areas in which
the company believes it can take leading positions.
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