TRENTON, N.J.—The first in a new class of cancer medicines, Pfizer’s Ibrance, appears poised for approval to treat advanced breast cancer within a few months and could quickly become a blockbuster, some analysts believe.
Pfizer shares rose 74 cents, or 2.3 percent, to $32.59 Thursday following analysts’ forecasts that the U.S. Food and Drug Administration could approve Ibrance before its April 13 target decision date.
Their reports came just after the New York-based drug maker said the FDA informed Pfizer it wouldn’t convene a panel of outside experts to review testing data on the drug, known chemically as palbociclib.
"We have consistently believed this is a product that the FDA sees value in."
, Credit Suisse
