Four Die In Pfizer Drug Test, Shares Slide, And A Competitor Is Surging


UPDATE: 3 of the deaths in the trial have been declared not related to the drug tofacitinib.

Four people have died in a test of a Pfizer drug meant to treat rheumatoid arthritis, according to the Wall Street Journal. The drug was tested on 792 people, and was effective in terms of its impact on arthritis. It is unknown what the patients died of.

The drug is called tofacitinib, and it has an existing rival in Abbot Labs’ Humira. That drug is already on the market.

Note the competitors shares went pretty much the opposite way on the news. The immediate spike of Abbot has pulled back, as has Pfizer’s loss.

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