Goldman Sachs Updates On PFE's Tofacitinib

Goldman Sachs has issued a report regarding the P3 Oral Scan study of tofacitinib from Pfizer PFE. According to the report, “ORAL Scan (full data expected at ACR in Nov) adds new information on the JAK joint benefit (crucial for establishing a competitive profile with the biologicals, such as Humira) at 10 mg BID, but confirm that 5 mg is a less effective dose than other biological DMARDs. This study would appear to be the final refinement of a dose selection, which in Phase 2 clinical trials began with a range of 1 mg BID- 30 mg BID.” PFE is Buy rated and has a $22 Price Target. PFE closed at $20.53 on Friday.