- After finding unacceptable levels of potential carcinogens called nitrosamines in certain Chantix (varenicline) lots, Pfizer Inc (NYSE:PFE) has halted the worldwide distribution of the popular smoking cessation medicine.
- A spokesman said the company believes the drug’s benefits “outweigh the very low potential risks, if any, posed by nitrosamine exposure from varenicline on top of other common sources over a lifetime.”
- The company said the pause in distribution is out of an abundance of caution and pending further testing.
- The FDA approved Chantix in May 2006 as a prescription medication that, along with support, helps adults aged 18 and over quit smoking and is used for 12 to 24 weeks.
- Pfizer’s Chantix generated $919 million last year, down 17% Y/Y as COVID-19 curbs hampered demand. The drug faced its first U.S. generics starting in November.
- Price Action: PFE shares are up 0.15% at $39.25 during the premarket session on the last check Friday.
Lattice Semiconductor Sees Q3 Sales $124M-$132M vs $121.42M Est.
Business Outlook - Third Quarter of 2021:
Revenue for the third quarter of 2021 is expected to be between $124 million and $132 million.
Gross margin percentage for the third quarter of 2021 is expected to be 62%
