Why Pfizer Stock Crushed the Market on Monday

The holy grail of pharmaceutical companies and biotechs is the development of a medication with blockbuster potential, and Pfizer seems to have one on its hands. A peer-reviewed study of Pfizer's investigational drug danuglipron found that the medication lowered both blood sugar and body weight after 16 weeks of use when compared to a placebo. Compounding that, that level of weight loss is comparable to pharmaceutical rival Novo Nordisk's (NYSE: NVO) highly successful semaglutide, a commercialized drug known in this country as either Ozempic or Rybelsus for diabetes, and Wegovy for weight loss.