Pfizer's Ibrance Fails To Extend Overall Survival In Newly Diagnosed Breast Cancer Setting - Novartis (NYSE:NVS), Pfizer (NYSE:PFE)

Pfizer Inc PFE announced overall survival (OS) results from the Phase 3 PALOMA-2 trial of Ibrance (palbociclib) combined with Novartis AG's NVS Femara (letrozole) in breast cancer setting compared to placebo.
After a median follow-up of seven and a half years, Ibrance/Femara combo failed to extend the lives of those breast cancer patients compared with Femara alone.
Patients on the Ibrance-Femara combo lived a median of 53.9 months versus 51.2 months for those in the solo Femara group.
PALOMA-2 met its primary endpoint of progression-free survival (PFS) in 2016 and was published in The New England Journal of Medicine in November 2016.
The results demonstrated that Ibrance plus letrozole resulted in an improved median PFS of 24.8 months compared to 14.5 months with placebo plus letrozole (HR=0.580).
The trial also showed that in addition to substantially delaying progressive disease, Ibrance as a first-line treatment, combined with letrozole, delayed the time to chemotherapy (38.1 months vs. 29.8 months).
Price Action: PFE shares closed higher by 0.95% at $53.18 on Friday.