Pfizer (PFE +1.5%) will submit an FDA new drug application for the use of its Palbociclib drug, together with Letrozole, for the "treatment of post-menopausal women with estrogen receptor positive (ER+), human epidermal growth factor receptor 2 negative (HER2-) locally advanced or metastatic breast cancer."
The decision stems from the results of Pfizer's Paloma-1 Phase 2 trial for Palbociclib/Letrozole. An NDA submission is expected in early Q3.
Pfizer is trading higher after coming off a halt. AstraZenaca (AZN +0.4%) investors are breathing a sigh of relief.