Pfizer, the biggest U.S.drugmaker, is all set to market its highly anticipated breast cancer drug Ibrance. The US Food and Drug Administration has approved the drug for sale and made its path clear to the market, two months in advance of the anticipated date of approval. The drugmaker can now proceed with one of its highly anticipated blockbuster medicine.
Oncology has always been an important market segment for the company and the company anticipates huge market for the newly authorized drug. It was authorized this week through an accelerated approval program of the U.S. Food and Drug Administration. The drug will target one of the deadliest forms of breast cancer. It is the first therapy to have been approved as an initial course of treatment for this form of breast cancer in the past 10 years, stated the company.
Pfizer’s Chief Executive Officer Ian Read stated in a statement about the approval’s news that the approval has come for an important drug that has the potential to impact significantly on the way advanced stage of breast cancer is treated by oncologists across the U.S.
Pfizer estimates that the drug will be an effective treatment option for nearly 22,000 women per year with the advanced cases of HER2-negative, ER-positive breast cancer. The drug will cost $9,850 for a month’s supply before any discounts.
The drug is expected to boost Pfizer’s business which is highly anticipating a new hit after it was hit by a series of patent expirations in the past few years. Ibrance is expected to exceed sales of worth $3 billion by the end of 2019. If it does, it will be Pfizer’s top selling drug by that time.