Pfizer Abandons Twice-Daily Weight Loss Pill Due to Side Effects

Pfizer has decided not to proceed with the development of a twice-daily version of its oral weight-loss drug, danuglipron, due to high rates of side effects such as nausea and vomiting observed in a midstage trial. The company's shares fell 5% following the announcement. Pfizer still has a once-daily version of the drug in development, with hopes that a change in the drug's release mechanism will reduce side effects. However, early data on the new formulation will not be available until the first half of next year. The decision is a setback for Pfizer's ambition to tap into the booming obesity market, which analysts expect to be worth $100 billion by the end of the decade.