Boston, MA, 11/22/2013 (wallstreetpr) – Pfizer Inc. (NYSE:PFE) has attained a breakthrough with its drug candidate Xalkori following the Food and Drug Administration approval of the same for treatment of a dangerous type of lung cancer. Xalkori is PFE’s latest drug to receive a strong from FDA and this opens a wonderful opportunity for the world’s largest drug maker to generate more revenue from drug sales.
It was a long time coming for Xalkori approval having first received accelerated approval from FDA in 2011. This accelerated approval was due to the fact that the drug looked promising to address the critical need of people suffering from ALK-positive NSCLC which is a type of lung cancer.
Pfizer Inc. (NYSE:PFE) is poised for bigger gains in stock considering that its latest drug development and one that has just been okayed by FDA addresses the very critical global need for the treatment of a leading cause of cancer death. Lung cancer is a global challenge and physician would be excited at Xalkori which is billed as the most effective cancer therapy yet in the market.
If statistics are anything to go by, lung cancer is estimated to kill more than 1.4 million people each year. The good news is that Pfizer Inc. (NYSE:PFE)’s new cancer therapy Xalkori has already received success having treated more than 6,000 lung cancer patients globally. Now that Xalkori has been launched, it’s reported that more people are going for cancer screening in the U.S. pushing the testing rate to 60% from 11% before Xalkori.
It is important mentioning that so far, Xalkori has approval from more than 60 countries and this opens a really wider market for the drug and makes it a realizable revenue earner for Pfizer Inc. (NYSE:PFE). With the FDA approval, Pfizer Inc. (NYSE:PFE)’s shares jumped up on the browser indicating growing confidence in the ticker.
