Shares of pharmaceutical giant Pfizer fell on Thursday following the company's decision to recall all supplies of its sickle cell disease medication, Oxbryta, worldwide. This step was taken due to fears that the drug could result in intense pain and, potentially, death in patients.
The voluntary recall also includes the termination of all active clinical trials and extended access programs associated with voxelotor, the main ingredient in Oxbryta. Pfizer elaborated that the move was based on the entirety of clinical data currently available which implied the overall benefits of Oxbryta no longer surpass the risks it poses to the approved sickle cell patient population.
The data indicates that the treatment could lead to an imbalance in vaso-occlusive crises and lethal events that require further evaluation. Pfizer has informed regulators about the findings and the subsequent product recall.
Aida Habtezion, the Chief Medical Officer and Head of Worldwide Medical and Safety at Pfizer, has called on individuals consuming Oxbryta to get in touch with their medics to discuss other treatment options as the company carries on its investigation.
Just an hour after the opening bell on Thursday, Pfizer shares dwindled by less than 1%, revealing negligible change on the year overall.