The company said the drug, which treats blood clotting disorders, reduced bleeding rates of patients in the late-stage study. Hemophilia B patients who took BeneFIX once a week showed a statistically significant reduction in annualized bleeding rate compared to those who took the drug on demand. BeneFIX already has approval for on-demand treatment.
Pfizer also agreed to purchase privately-held pharmaceutical company InnoPharma for $225 million and $135 million for specific milestones. The company expects to close the deal in the third quarter.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The stock was up 1.15% to $30.76 at 12:55 p.m. PFE Price data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.