Pfizer breast cancer drug hits midstage study goal

FILE - In this Jan. 30, 2012 file photo, boxes of the drug Relpax, made by Pfizer, are displayed in Surfside, Fla. Pfizer reports quarterly results before the market open on Tuesday, Jan. 28, 2014. (AP Photo/Wilfredo Lee, File)
FILE - In this Jan. 30, 2012 file photo, boxes of the drug Relpax, made by Pfizer, are displayed in Surfside, Fla. Pfizer reports quarterly results before the market open on Tuesday, Jan. 28, 2014. (AP Photo/Wilfredo Lee, File)

NEW YORK (AP) — Drugmaker Pfizer Inc. says a midstage study of its experimental drug for advanced breast cancer, palbociclib, met the main goals.

The world’s second-biggest drugmaker says its drug, combined with another medicine called letrozole, increased the time patients survived without tumors growing, compared with women just getting letrozole.

Pfizer shares jumped 99 cents, or 3.3 percent, to $31.40 in late-morning trading.

Analysts are closely watching palbociclib, which is for postmenopausal women with certain tumor characteristics found in about 60 percent of patients with advanced breast cancer. It’s seen as a potential huge seller.

New York-based Pfizer is now enrolling patients in a late-stage test of palbociclib. Last April, the Food and Drug Administration designated it a breakthrough therapy, a recognition that helps speed up the review needed for approval.

 

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