Pfizer Inc.’s $6.7bn bet on Arena Pharmaceuticals, Inc. appears to be paying off after the pharma giant reported on 23 March that the S1P receptor modulator etrasimod met the primary and all of the secondary endpoints in the first of two important Phase III clinical trials in ulcerative colitis. Results from a second, longer Phase III trial should soon follow, since Pfizer said they will be available by the end of the first quarter.
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