Torisel Study Fails, But PFE Valuation Mostly Unaffected

Pfizer’s (NYSE:PFE) renal cell carcinoma treatment Torisel failed a study determining its capabilities in combination with Avastin. Torisel is approved as a monotherapy, but PFE hoped it could prove more effective with Avastin, a product from Roche (OTCBB:RHHBY), than traditional interferon-alfa-2a; the latter combination is the first-line treatment in advanced renal cell carcinoma. Had the study proved an Avastin-Torisel combination’s efficacy and safety, the treatment could replace interferon as the standard of care and create substantial revenue for Pfizer. Shares of PFE are trading down slightly after the news, although downside should be very limited as the new indication was largely unexpected.