Pfizer Stock Price, News & Analysis

Pfizer (NYSE: PFE) has announced the commencement of a search for a successor to Dr. Mikael Dolsten, their Chief Scientific Officer and President of Research & Development. Dr. Dolsten, who has been with Pfizer for over 15 years, will assist in the transition and stay on until a successor is appointed. During his tenure, over 35 drugs and vaccines were approved, including significant accomplishments like the COVID-19 vaccine. The search process is expected to take several months, extending into early next year. Pfizer’s CEO, Albert Bourla, praised Dr. Dolsten for his contributions to the company and the scientific community.

Pfizer announced the election of Cyrus Taraporevala to its Board of Directors, effective immediately. At 57, Mr. Taraporevala will join Pfizer’s Audit and Compensation Committees. He brings extensive experience from his tenure as President and CEO at State Street Global Advisors (2017-2022) and prior roles at Fidelity, BNY Mellon, Legg Mason, Citigroup, and McKinsey & Company. He currently serves on the boards of Shell and Bridgepoint Group. Pfizer CEO Albert Bourla praised Mr. Taraporevala's investment management and global operations expertise, stating it will benefit Pfizer and its shareholders. Mr. Taraporevala holds a Bachelor of Commerce from the University of Bombay and an MBA from Cornell University.

Pfizer has announced a third-quarter 2024 cash dividend of $0.42 per share, marking the company's 343rd consecutive quarterly dividend. The dividend is payable on September 3, 2024, to shareholders of record as of July 26, 2024. This announcement underscores Pfizer's commitment to returning value to its shareholders.

Pfizer (NYSE: PFE) invites investors and the general public to join a webcast conference call on July 30, 2024, at 10:30 a.m. EDT. The call will discuss the company's Second Quarter 2024 Performance Report. Interested parties can access the webcast and the performance report via Pfizer's investor website. Registration is recommended prior to the event. The call can also be accessed by dialing specific numbers for the United States/Canada and international participants. A transcript and replay will be available on Pfizer's website for 90 days post-event.

Pfizer announced positive results from the Phase 2 MagnetisMM-3 study of ELREXFIO™ (elranatamab-bcmm) in patients with relapsed or refractory multiple myeloma. The study reported a median overall survival (OS) of 24.6 months and a median progression-free survival (PFS) of 17.2 months. The overall response rate (ORR) was 61.0%, with a complete response rate of 37.4%.

ELREXFIO has shown deep and durable responses, with a two-year estimated duration of response rate at 66.9%, and 87.9% for those with complete or better responses. Pfizer has received FDA accelerated approval and EU conditional marketing authorization for ELREXFIO. Ongoing studies are exploring elranatamab in various settings, from newly diagnosed to heavily pretreated patients.

Pfizer (NYSE: PFE) has announced that its Phase 3 CIFFREO study, evaluating the mini-dystrophin gene therapy, fordadistrogene movaparvovec, for Duchenne muscular dystrophy (DMD), did not meet its primary endpoint. The trial, involving boys aged 4 to 7 years, aimed to assess improvements in motor function using the North Star Ambulatory Assessment (NSAA) one year post-treatment. Secondary endpoints, including 10-meter run/walk velocity and time to rise from the floor, also failed to show significant differences compared to placebo. Safety profiles were mostly mild to moderate, with serious adverse events being manageable. Pfizer remains committed to monitoring participants and exploring future research directions.

Pfizer invites investors and the public to join a webcast of a discussion with CEO Albert Bourla at the Goldman Sachs 45th Annual Global Healthcare Conference on June 10, 2024, at 11:20 a.m. EDT. The webcast will be available on Pfizer's investor website. A transcript and replay will be accessible within 24 hours after the live event and will remain available for at least 90 days. Pfizer continues to advance healthcare through science, aiming to improve lives with innovative medicines and vaccines. For more details, visit Pfizer's website.

Takeda and Pfizer announced positive four-year results from the Phase 3 HD21 trial. The trial evaluated ADCETRIS® (brentuximab vedotin) in combination with chemotherapy for treating newly diagnosed Stage IIb/III/IV classical Hodgkin lymphoma. Conducted by the German Hodgkin Study Group (GHSG), the study showed that the ADCETRIS combination significantly improved progression-free survival (PFS) and had a better safety profile compared to the standard eBEACOPP regimen. The results will be presented at the ASCO and EHA 2024 meetings. After 48 months, the ADCETRIS combination showed a 94.3% PFS rate versus 90.9% for eBEACOPP. Additionally, the ADCETRIS regimen was associated with fewer acute and long-lasting toxicities. Takeda and Pfizer are responsible for regulatory filings and commercialization in different regions.

Pfizer's Phase 3 ECHELON-3 study on ADCETRIS® (brentuximab vedotin) in combination with lenalidomide and rituximab for relapsed/refractory diffuse large B-cell lymphoma (DLBCL) showed significant results. The regimen reduced the risk of death by 37% compared to chemotherapy alone, with a median overall survival of 13.8 months versus 8.5 months. The study included 230 patients and will be presented at the 2024 ASCO Annual Meeting. ADCETRIS demonstrated consistent benefits across different levels of CD30 expression and is a standard of care in several lymphomas. Median progression-free survival was 4.2 months for the ADCETRIS regimen compared to 2.6 months for the placebo group. The overall response rate was 64.3% versus 41.5%, and complete response rate was 40.2% versus 18.6%. Adverse events included higher rates of neutropenia, thrombocytopenia, and anemia in the ADCETRIS group.