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  "documentTitle": "Pfizer Inc. (PFE)",
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  "presentationDate": "2024-10-01 00:00:00",
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      "kind": "callout",
      "text": "The Company is continuing to invest behind a once a day formulation, but analysts are skeptical.",
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      "text": "The Company discontinued its Phase 2b Danuglipron (twice a day formulation) after tolerability issues.",
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      "text": "The Company appears to have missed the mark on GLP-1s.",
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      "text": "We expect PFE to trade lower today following disclosure of topline results... we view the results as markedly negative for the program, with PFE discontinuing further development of the twice daily formulation.",
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      "text": "This morning, PFE announced that it is advancing the development of its QD formulation... we remain skeptical on the asset with questions remaining on the tolerability profile...",
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      "text": "\"We expect PFE to trade lower today following disclosure of topline results from the phase 2b obesity study of the company’s twice daily oral GLP-1 receptor agonist, danuglipron. Despite the study meeting its primary endpoint of body weight change from baseline vs placebo, we view the results as markedly negative for the program, with PFE discontinuing further development of the twice daily formulation.\" — Goldman Sachs, December 1, 2023. \"This morning, PFE announced that it is advancing the development of its QD formulation of danuglipron (oral GLP-1) based on recent PK data, and we wanted to provide our thoughts. Overall, while we are not surprised that PFE is moving forward with this program, we remain skeptical on the asset with questions remaining on the tolerability profile... Net-net, we are not surprised by today’s news but continue to see a limited role for the asset absent more clarity on the tolerability profile of the new formulation and based on LLY’s significant time-to-mkt advantage for orforglipron (ph3 data expected in mid-2025).\" — J.P. Morgan, July 11, 2024.",
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      "text": "However, the Company’s GLP-1 Assets Have Not Been Successful To Date...",
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