The American pharmaceutical giant Pfizer has halted its research on developing a weight-loss drug candidate, reports Bloomberg.
This is a setback for Pfizer, which had hoped to enter the lucrative weight-loss drug market dominated by competitors Novo Nordisk and Eli Lilly.
During the development of the danuglipron pill, which was in phase 2 trials, a patient experienced liver issues. Consequently, Pfizer decided not to proceed to phase 3.
With declining sales of Covid-19 vaccines, Pfizer is seeking a new breakthrough treatment. The weight-loss drug market is booming and is estimated to be worth $130 billion by 2030.
