Pfizer Inc, which is in the process of trying to acquire British rival AstraZeneca for more than $100 billion, on Friday said it planned to file for U.S. approval for palbociclib, its experimental drug for advanced breast cancer, in the third quarter.The largest U.S. drugmaker said it made the decision to submit its application to the Food and Drug Administration following discussions with the regulatory agency about the results of a midstage clinical trial.Morningstar analyst Damien Conover said he believed Pfizer may be looking to strengthen its position in negotiations with AstraZeneca by showcasing its own cancer drugs, although he had considered an FDA filing based on the Phase II data a strong possibility.The strength of AstraZeneca's portfolio of experimental cancer medicines has been cited as one of the reasons Pfizer wants to acquire the company, and has been a centerpiece of the case Astra has made in seeking a significantly higher offer.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE traded higher by 0.62% or $0.18/share to $29.24. In the past year, the shares have traded as low as $27.12 and as high as $32.96. On average, 30505300 shares of PFE exchange hands on a given day and today's volume is recorded at 23342116.
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