Pfizer Drops as Obesity Drug Halted on Safety Concerns (1)

Pfizer Inc. shares fell after it halted early development of an oral drug for weight loss on safety concerns, raising investor anxiety about an alternative therapy the company is still developing.

The drugmaker will stop work on lotiglipron based on data from phase 1 clinical trials and lab measurements showing elevated levels of enzymes in an ongoing mid-stage study, according to a statement Monday. The enzymes, called transaminases, play a key role in liver function. None of the patients reported liver side effects or symptoms, Pfizer said.

The shares fell as much as 5.6% at 10:51 a.m. in New ...