Tuesday, June 30, 2009

Pfizer is discontinuing a late-stage study of its cancer drug Sutent (SOO-tent) as an initial treatment for colon cancer because the drug is not proving effective enough.

Sutent is approved for advanced kidney cancer and gastrointestinal cancer. The clinical trial compared the drug in combination with a type of chemotherapy against patients taking the chemotherapy alone. The Sutent combination was no more effective at improving the time a patient survives without the cancer progressing.

Pfizer says there were no safety issues.

Shares of Pfizer fell 23 cents to $14.77 in after-hours trading after falling 26 cents to close at $15 during the regular trading session.