Pfizer maps out plans for developing new oncology therapeutics by 2030

Pfizer dilvulges plans to investors around growing their cancer portfolio, and the drugs they will be focusing on developing after their aquisition of Seagen in 2023. 

Now, the company has laid out their plans for the future in light of the merger in a recent investor event. Chris Boshoff, Chief Oncology Officer, announced the company’s plans for eight new cancer drugs to be developed by 2030, and other strategic priorities for the coming years. They are projecting that by 2030 Pfizer will have doubled the number of their patients from 2.3 million in 2023 to 4.6 million, that are treated with their latest cancer therapeutics. 

The strategy is set to focus on four main cancer types – breast cancer, genitourinary cancer, blood cancer, and thoracic cancers – all of which they already have a commercial offering in. Pfizer is aiming to progress drugs through the development stages to approval, and is also working on getting existing drugs approved for earlier lines of treatment. 

Pfizer’s main oncology therapeutic offerings, pre Seagen acquisition, were Ibrance, Xtandi and Inlyta. Sales of Ibrance and Xtandi have been declining, pushing the company to find new avenues for investment that could boost their pipeline and bring revenue back up. However, the company have not released specific projections for the next few years in their oncology offering, rather stating that they expect to have strong growth in this area. 

By widening their portfolio Pfizer are hoping to expand into biologics development, rather than sticking to small molecules. The drug developers are aiming to boost their biologics revenue to make up 65% of their total revenue, from its proportion as it stands today at 6%. 

Another reason to invest in novel cancer therapeutics is so that Pfizer don’t need to rely on their current drugs such as Ibrance in the future, as Ibrance nears its patent cliff within the next few years. Boshoff told investors that even with the new developments they are still expecting to see a 10% drop in breast cancer sales as a part of the total oncology sales when the patent for Ibrance runs out. 

Moving on from breast cancer, Pfizer is expecting genitourinary cancer therapies to become their main revenue stream, including bladder cancer and prostate cancer therapeutics. 

Source:

Fierce Pharma. Pfizer fleshes out oncology strategy, targeting 8 blockbuster cancer drugs by 2030. [Date accessed 05/03/2024] www.fiercepharma.com/pharma/pfizer-fleshes-out-oncology-strategy-targeting-8-blockbuster-cancer-drugs-2030