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Shares of the New York City-based company, which has about 2,000 employees in New Jersey, were trading at around $20.83 late this morning.
An ongoing review of Exubera clinical trial data has shown that six out 4,740 patients treated with the inhaler have developed lung cancer while one of 4,292 patients not treated with Exubera has developed the disease, said Pfizer. There has also been a report of a patient who was treated with Exubera after the inhaler hit the market and developed lung cancer, according to Pfizer.
The warning label update notes that all of the patients who developed lung cancer and used Exubera were former cigarette smokers.
Pfizer, which stopped marketing Exubera in October 2007, said it made the decision because the drug did not meet financial expectations or customers’ needs. San Carlos, Calif.-based Nektar Therapeutics, which developed the medication, said it will not look for another marketing partner.
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