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Pfizer's hemophilia B gene therapy DURVEQTIX gets EU nod

Published 25/07/2024, 16:08
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PFE
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Pfizer Inc. (NYSE: NYSE:PFE) has received conditional marketing authorization from the European Commission for its gene therapy product DURVEQTIX, designed for the treatment of severe and moderately severe hemophilia B in adult patients who do not have a history of factor IX inhibitors and without detectable antibodies to variant AAV serotype Rh74.

The authorization is based on the results from the Phase 3 BENEGENE-2 study, which showed that a one-time dose of DURVEQTIX significantly reduced the annualized bleed rate (ABR) compared to the current standard of prophylactic infusions of factor IX (FIX). The study met its primary efficacy endpoint of non-inferiority and demonstrated a statistically significant decrease in ABR for total bleeds post-treatment.

Patients treated with DURVEQTIX saw a median ABR of zero with a range of 0 to 9.9 bleeds after up to four years of follow-up, indicating sustained bleed protection and the potential to reduce the treatment burden associated with regular intravenous FIX infusions.

DURVEQTIX was generally well-tolerated, with a safety profile consistent with earlier phase results. The most common adverse reaction was an increase in liver enzymes, managed with corticosteroids. No serious adverse events related to the treatment or associated with infusion reactions, thrombotic events, or FIX inhibitors were reported.

The approval extends to all 27 European Union member states, as well as Iceland, Liechtenstein, and Norway, following similar approvals by the U.S. Food and Drug Administration (FDA) and Health Canada.

The European Marketing Authorization Application included data from the BENEGENE-2 study when 41 participants had reached 15 months of follow-up, with a subsequent data cut monitoring some patients for up to four years. Clinical trial participants will continue to be observed for a total of 15 years to assess the long-term safety and efficacy of the therapy.

Pfizer has a history of over 40 years in hemophilia treatment advancements and continues to expand its portfolio, including recent positive results from a Phase 3 program for hemophilia A gene therapy and a Phase 3 trial for marstacimab, an investigational treatment for hemophilia A and B.

InvestingPro Insights

As Pfizer Inc. (NYSE:PFE) secures a new milestone with the European Commission's conditional marketing authorization for its hemophilia B gene therapy, DURVEQTIX, investors may find the following insights from InvestingPro valuable for their assessment of the company's financial health and market performance.

Pfizer's commitment to innovation and its robust pipeline is reflected in its consistent dividend payments, with a history of dividend growth spanning 54 years, signaling a strong commitment to shareholder returns. This dedication is further underscored by the fact that Pfizer has increased its dividend for 13 consecutive years, as highlighted in one of the InvestingPro Tips. Moreover, despite some analysts revising their earnings expectations downwards, the overall net income of the company is expected to grow this year.

In terms of financial metrics, Pfizer boasts a substantial market capitalization of 172.72 billion USD, which underscores its significant presence in the pharmaceutical industry. While the company's P/E ratio stands at a high of 35.73 for the last twelve months as of Q1 2024, this could be indicative of investor confidence in Pfizer's future profitability and growth prospects. Additionally, the company's strong return over the last three months, with a 20.48% price total return, may interest investors looking for recent positive market trends.

For readers interested in further insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/PFE. These tips may provide a deeper understanding of Pfizer's market position and performance. And for those considering an InvestingPro subscription, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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