Quantcast

Pfizer's Tafamidis Fails to Impress in Cardiomyopathy Study


Shutterstock photo

Pfizer Inc. PFE announced encouraging data from a phase III study - ATTR-ACT - evaluating its pipeline candidate, tafamidis, in patients with wild-type or variant (hereditary) transthyretin amyloid cardiomyopathy (ATTR-CM). Tafamidis achieved statistically significant reduction in the combination of all-cause mortality and frequency of cardiovascular-related hospitalizations.

The data were presented at the European Society of Cardiology congress in Munich and published online in the New England Journal of Medicine simultaneously.

However, the data failed to impress investors as the results did not show enough confidence to lead the market in the target indication. The candidate enjoys Orphan Drug, Fast Track and Breakthrough Therapy designations for ATTR-CM in the United States.

Pfizer's shares fell 1.9% on Aug 27 following the news. However, shares of Pfizer have increased 14.7% so far this year, comparing favorably with a 5.3% gain for the industry .

The ATTR-ACT study evaluated an oral daily dose of tafamidis meglumine capsules over a period of 30 months in all ATTR-CM patients, which include both types of the disease - a hereditary form and a wild-type form.

Data from the study showed that treatment with tafamidis reduced the risk of morality and rate of cardiovascular-related hospitalization by 30% and 32%, respectively, compared to placebo. Tafamidis also helped in reducing the rate of decline in functional capacity, as measured by six minute walk test distance and also the rate of decline in aspects of quality of life compared to placebo.

TTR-CM is a rare disease associated with progressive heart failure and is universally fatal. Due to lack of treatment options, Pfizer has expanded access treatment protocol to make tafamidis accessible prior to regulatory approval to patients who may benefit from the candidate.

The candidate will face competition from Alnylam Pharmaceuticals' ALNY Onpattro (patisiran) and Ionis Pharmaceuticals' IONS Tegsedi (inotersen). While Onpattro received approval earlier this month, a decision on Tegsedi is expected in October in the United States. Both the drugs have been developed for treating hereditary TTR amyloidosis. Both the companies are developing their drugs for ATTR-CM.

Pfizer Inc. Price

Pfizer Inc. Price | Pfizer Inc. Quote

Zacks Rank & Stock to Consider

Pfizer currently has a Zacks Rank #3 (Hold).

Eli Lilly and Company LLY is a better-ranked stock from the same space, carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

Lilly's earnings per share estimates have increased from $5.37 to $5.42 for 2018 and from $5.62 to $5.69 for 2019 over the past 30 days. The company delivered a positive earnings surprise in all the trailing four quarters with an average beat of 10.15%.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Pfizer Inc. (PFE): Free Stock Analysis Report

Eli Lilly and Company (LLY): Free Stock Analysis Report

Alnylam Pharmaceuticals, Inc. (ALNY): Free Stock Analysis Report

Ionis Pharmaceuticals, Inc. (IONS): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Business , Stocks
Referenced Symbols: PFE , LLY , ALNY , IONS



More from Zacks.com

Subscribe






Zacks.com
Contributor:

Zacks.com

Equity Research










Research Brokers before you trade

Want to trade FX?