Pfizer, one of the world’s leading pharmaceutical companies, is shifting its strategic focus to cancer drugs in order to recover from the decline caused by the Covid-19 pandemic. The company recently held an investor event where it outlined its plans to expand its presence in the oncology market and emphasized the potential of its newly integrated subsidiary, Seagen. Despite facing challenges such as declining revenue from existing oncology drugs and upcoming patent losses, Pfizer is optimistic about its long-term commercial strategy.
During the investor event, Pfizer highlighted the importance of its oncology division, which now includes Seagen’s drug pipeline. With 60 different experimental programs, Pfizer believes that its oncology portfolio has the potential to produce at least eight blockbuster medicines by 2030. However, the company did not disclose which drugs it expects to be successful. Analysts have noted that it may take a few years for some of Pfizer’s cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky.
Pfizer’s existing oncology portfolio is facing competitive pressure, with revenue from its blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi declining over the past year. Both drugs are expected to lose market exclusivity in 2027. Despite this, analysts remain optimistic about Pfizer’s ability to offset these losses and drive future growth through its oncology business.
Pfizer’s long-term strategy for its oncology division includes a focus on four main types of cancer: breast cancer, genitourinary cancer, thoracic cancer, and hematology-oncology. The company expects genitourinary cancer to become the largest franchise of its cancer business, accounting for an estimated 35% of oncology sales by 2030. Pfizer is testing an experimental antibody-drug conjugate (ADC) called disitamab vedotin as a treatment for certain bladder cancers, with data from mid-stage and late-stage trials expected in 2025 and 2026.
In addition to its focus on cancer drugs, Pfizer is also investing in other areas such as vaccines and treatments for metabolic and inflammatory conditions. The company plans to roll out an updated version of its Covid-19 vaccine that targets a new strain of the virus. Pfizer is also testing combination vaccines for respiratory viruses, including a shot for Covid-19 and the flu. Outside of vaccines, Pfizer is developing treatments for sickle cell disease, cancer cachexia, and obesity.
Overall, Pfizer’s strategic focus on cancer drugs as a key driver for business recovery following the decline caused by Covid-19 shows its determination to bounce back from a challenging year. The company’s integration with Seagen and its ambitious plans for its oncology division demonstrate its commitment to innovation and growth in the pharmaceutical industry. With a strong pipeline of experimental medicines and a long-term commercial strategy in place, Pfizer is well-positioned to regain its footing and drive future success in the oncology market.
References:
– Nurphoto | Nurphoto | Getty Images
– David Ryder | Bloomberg | Getty Images
– Irfan Khan | Los Angeles Times | Getty Images
