(By Mani) Pharma giant Pfizer Inc. (NYSE: PFE) announced positive results from various clinical trials, sending its shares up nearly 2.5 percent on Thursday.
Pfizer said its smoke-cessation drug Chantix demonstrated efficacy in smokers who previously attempted to quit smoking with Chantix. The drug significantly increased continuous abstinence rates compared to placebo at weeks nine to 12, the last four weeks of treatment.
Chantix was approved by the FDA in May 2006 as an aid to smoking cessation treatment in adults 18 and older. Chantix has been shown to increase the likelihood of abstinence from smoking for as long as one year compared to treatment with placebo.
Separately, the company said a Phase 4 study showed that Pristiq could be used as a treatment option for Major Depressive Disorder (MDD) in adults. The study supports the efficacy of 50 mg/day and 100 mg/day doses of Pristiq compared with placebo over eight weeks of treatment in adult patients with MDD.
In another development, Pfizer said a Phase 4 study showed that higher dose of Toviaz offers greater efficacy in reducing urge urinary incontinence in patients with overactive bladder (OAB). The recommended starting dose of Toviaz is 4 mg once daily. Roughly 455 million adults worldwide, including 33 million American adults, are estimated to suffer from OAB symptoms.
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At 1.29 pm ET, shares are trading 1.50 percent higher at $27.05 on the NYSE.