- Pfizer shares rose after a study showed its experimental diabetes treatment was effective in reducing the number of patients & # 39; weight.
- The drug provided similar weight loss to Ozempic, but in less time.
- Pfizer shares gained more than 5% on Monday after the news.
Pfizer (PFE) shares rose on the release of a study showing positive weight loss results in patients taking the drugmaker's oral diabetes treatment.
Data from the A phase 2 trial published on the Journal of the American Medical Association (JAMA) network reported that the drug, danuglipron, worked as well and faster than Novo Nordisk's popular weekly Ozempic injection (NVO).
The research found adults with type 2 diabetics who received the experimental treatment lost about 10 pounds in 16 weeks. A phase 3 trial of Ozempic resulted in the same weight loss, but it took 30 weeks.
Pfizer presented the data last fall at a conference in Europe, and Monday's JAMA report focused on a comprehensive peer-reviewed study.
Request for the weight of 39;Ozempic and de Novo-loss medicine Wagovy soared as those looking to lose weight, including Hollywood celebrities, social media influencers and Tesla (TSLA) CEO Elon Musk, claimed to have provided positive results. Novo reported that Ozempic sales soared 77% in 2022, and it expects them to rise 23% this year.
Pfizer shares rose up more than 5% on the Monday following the news, but are down 24% for the year so far.