Pfizer (NYSE: PFE) stock fell more than 2% on Thursday, even though Canadian regulators approved its Gene Therapy for Hemophilia B.
The gene therapy developed by Pfizer (NYSE: PFE) for hemophilia B. receives approval from the Canadian health regulator, with a decision from the U.S. FDA expected in Q2 2024.
Pfizer (PFE) has announced that its gene therapy for the rare inherited bleeding disorder, hemophilia B, has received approval from the Canadian health regulator. This significant development precedes a pending decision from the U.S. Food and Drug Administration (FDA), anticipated in the second quarter of 2024.
Over a year ago, U.S. regulators approved CSL’s Hemgenix, marking the first one-time gene therapy for hemophilia B. This underscores the ongoing efforts within the pharmaceutical industry to address rare genetic conditions.
Hemophilia, a rare genetic bleeding disorder primarily affecting males, leads to prolonged blood clotting due to a deficiency in specific blood clotting factors. The approval of Pfizer’s gene therapy in Canada signals progress in genetic treatments for such conditions.
The development comes shortly after Pfizer (NYSE: PFE) reported the successful conclusion of its acquisition of Seagen (NASDAQ: SGEN), a leading biotechnology firm specializing in the discovery, development, and commercialization of groundbreaking cancer medicines. The acquisition involved the purchase of all outstanding common stock of Seagen for $229 in cash per share, resulting in a total enterprise value of around $43 billion for Pfizer.
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto.
