Pfizer Inc. (NYSE:PFE) reported that 20 abstracts for XELJANZ® will be showcased at the 2016 ACR/ARHP Yearly Meeting to be held from November 11 to November 16. Notably, data from the two key Phase 3 OPAL trials of tofacitinib, the only JAK inhibitor under probe for psoriatic arthritis will be showcased for the first time.
OPAL Broaden will be showcased during a plenary session while OPAL Beyond will be showcased during an abstract poster session. Additionally, updated and new research for ‘XELJANZ’ in rheumatoid arthritis will be presented. Michael Corbo of Pfizer said that as part of their commitment to immunology and inflammation, they continue to advance leading science in the exploration of Janus kinase inhibition. The extensive data being showcased at this year’s ACR/AHRP yearly meeting expands upon company’s knowledge on the role of XELJANZ for the cure of rheumatoid arthritis and validates its potential, if passed, for the cure of psoriatic arthritis.
The rheumatoid arthritis presentations at this fiscal’s meeting covers new information on the benefit-risk profile of ‘XELJANZ’ as monotherapy; safety and efficacy evaluation of XELJANZ without or with concomitant utilization of glucocorticoids; probe in the cure of early RA; and data on time to response. Report being showcased at ACR on the safety and efficacy of long-term XELJANZ medication comprise real-world experience from a provisional assessment of an RA registry and revised data from a long-term extension trial up to 8 years.
Pfizer has witnessed its revenues drop at a steady rate in the past five years. The recent 3Q2016 results, announced on November 1, 2016 with earnings of $0.61 per share missing projections by $0.01 and revenue coming at $13.05 billion, left the investors unimpressed. The major reason for this performance is the loss of patent protection for ‘Lipitor statin’ in 2011.
The drug has been one of the best-selling drugs since last many years, and global sales in 2010 had touched $10.7 billion. In fact, $7.9 billion of total sales came from the U.S alone. The loss of a deal of these sales to generic competition has negatively impacted Pfizer.