Pfizer's Lyrica Holds Promise - Analyst Blog
June 24 2011 - 7:00AM
Zacks
Pfizer Inc. (PFE) recently presented positive
top-line data on its blockbuster drug, Lyrica. Pfizer said that
Lyrica met the primary endpoint in a study that was being conducted
in patients with chronic central neuropathic pain following
traumatic spinal cord injury.
Patients participating in the double-blind, placebo-controlled,
parallel group, multi-center study (Study A0081107) were randomized
to receive Lyrica or placebo. Initial results showed that Lyrica
demonstrated positive efficacy in reducing central neuropathic pain
following spinal cord injury compared to placebo. Pfizer will
analyze the data further.
Pfizer has been working on expanding Lyrica’s label for
additional indications. Lyrica has experienced a very strong ramp
since its introduction. Total Lyrica sales in 2010 were $3.0
billion. The product is approved in 110 countries and regions for
indications like diabetic nerve pain, pain after shingles,
fibromyalgia and partial onset seizures in adults with epilepsy who
take one or more drugs for seizures. Other players in the
fibromyalgia market include Eli Lilly’s (LLY)
Cymbalta and Forest Labs’ (FRX)
Savella.
Cymbalta is also approved for other indications like depression,
generalized anxiety disorder, diabetic nerve pain, and chronic
musculoskeletal pain due to chronic osteoarthritis pain or chronic
low back pain.
Besides evaluating Lyrica for chronic central neuropathic pain
following traumatic spinal cord injury, Pfizer is evaluating
Lyrica’s potential in other indications like peripheral neuropathic
pain and epilepsy (monotherapy). Approval for additional
indications would boost Lyrica sales.
Neutral on Pfizer
We currently have a Neutral recommendation on Pfizer, which
carries a Zacks #3 Rank (short-term Hold rating). While near-term
earnings growth will come in the form of cost cutting and share
repurchases, longer-term growth will be dependent on the success of
drug development. 2011 should be a catalyst-filled year for the
company, which is expecting to present phase III data on several
candidates.
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