Seagen

Pfizer disclosed that its experimental lung cancer drug, sigvotatug vedotin, failed to show a statistically significant improvement over docetaxel in a clinical trial. The U.S. Food and Drug Administration announced a pilot program to accelerate early-stage clinical trials, aiming to reduce development timelines and counter Chinese dominance in the field.

Pfizer's experimental lung cancer drug sigvotatug vedotin failed in a clinical trial, which was expected to replace the chemotherapy docetaxel. The drug was acquired through Pfizer's $43 billion purchase of Seagen in 2023.