Important points
Pfizer is halting worldwide sales of its sickle cell disease drug Oxbrita, citing safety concerns. The drugmaker said Oxbrita’s benefits no longer outweigh the risks. The company’s data shows patients can suffer severe pain and even death.
Pfizer (PFE) stock fell Thursday after the company recalled all lots of its sickle cell disease drug worldwide over concerns it could cause severe pain and death in patients.
The company announced it was voluntarily recalling Oxbrita and ending all ongoing clinical trials and expanded access programs for its key ingredient, Voxeler.
Oxbrita’s benefits ‘no longer outweigh the risks’
Pfizer explained that this decision was made “based on the comprehensiveness of clinical data showing that the overall benefits of OXBRYTA no longer outweigh the risks in the approved sickle cell patient population.”
The company said the data suggests the therapy may cause a “disparity in vascular occlusive crises and fatal events that warrant further evaluation.” Pfizer said it advised regulators about the findings and the recall.
Aida Habtezion, Pfizer’s chief medical officer and head of worldwide medical safety, advised people taking Oxbrita to contact their doctors and recommend alternative medications while the company continues its investigation. I advised them to talk about it.
Pfizer stock, which fell less than 1% in the hour after the opening bell on Thursday, is little changed this year.
