Sanofi

Pfizer shares declined 1.6% on Thursday, caught in a broad market downturn. The company navigates falling COVID product revenue while advancing its pipeline, including a new weight-loss drug approval in China.

Pfizer shares declined slightly as regulatory scrutiny of mRNA vaccines eased, offset by positive mid-stage trial results for its experimental eczema drug tilrekimig.

Pfizer announced its experimental eczema drug tilrekimig achieved its main goal in a mid-stage study, showing significant symptom improvement. The company plans to initiate a pivotal Phase 3 trial later this year.