Pfizer and Lilly gear up to resume Phase III chronic pain program for tanezumab

US pharma majors Pfizer (NYSE: PFE) and Eli Lilly (NYSE: LLY) both saw their shares rise in pre-market trading today, as they revealed that they are preparing to resume the Phase III clinical program for tanezumab. Pfizer was up 2.28% to $35.03 and Lilly gained 0.96% to $76.85.

As a result, Pfizer expects to receive a $200 million upfront payment from Lilly in accordance with their 2013 collaboration agreement. This announcement follows a decision by the US Food and Drug Administration to lift the partial clinical hold on the tanezumab development program after a review of a robust body of non-clinical data characterizing the sympathetic nervous system response to tanezumab. The data were submitted to the FDA in February 2015.

In the prior clinical studies of more than 11,000 patients, tanezumab demonstrated clinically meaningful efficacy versus placebo and other select commonly used pain medicines. A partial clinical hold has been in place for tanezumab and all other anti-nerve growth factor antibodies since December 2012 due to adverse changes in the sympathetic nervous system of mature animals. Studies in terminal cancer pain were allowed to proceed.