Pfizer Halts Development of Obesity Drug After Patient Sustains 'Liver Injury'
1. Pfizer halts development of weight-loss drug danuglipron due to liver injury risk. 2. Rival companies Eli Lilly and Novo Nordisk saw stock increases post-announcement. 3. Danuglipron failed despite meeting some pharmacokinetic targets in Phase 3 trial. 4. Pfizer will shift focus to other obesity drug candidates, including oral GIPR antagonist. 5. PFE shares have declined by 17% since the start of the year.