Pfizer Halts Nerve Drug Lyrica Study
As per reports, it has been revealed that the world's largest Drugmaker Pfizer has stopped the late-stage study of its nerve pain drug, Lyrica. Officials were of the view that the drug is absolutely safe, but they were not finding any difference in the drug and placebo.
They will continue the study, but after some time. The drug has already got green signal from the United States. The drug is used for the treatment of diabetic nerve pain, pain after shingles, fibromyalgia as well seizures, which are experienced by people, who have been suffering from epilepsy.
The drug was a huge hit in the country, as it helped the company to earn $955 million in the first quarter. It has also been revealed that the drug's revenue has also increased by 16%. Steven J. Romano, who is Senior Vice President of Pfizer Inc, said, "The study of Lyrica for this condition is an example of Pfizer's dedication to better understanding neuropathic pain and to providing data and developing treatments".
The news has got a decline in the shares of Pfizer Inc. It has been found that its shares fell by 23 cents which amounts to $22.38 at the time when the Standard and Poor's 500 indexes fell by 1%.
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