Merck and Pfizer's diabetes treatment meets primary endpoint of late-stage trial

Merck & Co. Inc. and Pfizer Inc. said Thursday a Phase 3 study of ertugliflozin, an investigational oral treatment for type 2 diabetes, met its primary endpoint. The drug giants plan to submit a new drug application for ertugliflozin by the end of 2016, and regulatory submissions overseas in 2017. "Type 2 diabetes is a progressive disease and these study results help support the clinical profile of ertugliflozin as an add-on therapy for patients who may require multiple treatment combinations to help reach their blood sugar goals," said James Rusnak, chief development officer in cardiovascular and metabolics at Pfizer. Shares of Merck were still inactive in premarket trade and Pfizer's tacked on 0.1%. Year to date, Merck's stock has run up 16% and Pfizer shares have advanced 5.1%, while the SPDR Health Care Select Sector ETF has slipped 0.6% and the Dow Jones Industrial Average has tacked on 3.5%.

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