Pfizer's Cancer Treatment Breakthrough: Collaboration with Astellas and Merck Achieves Promising Phase 3 Trial Results

Pfizer and Astellas's Phase 3 trial results show promising efficacy for the Padcev and Keytruda combination therapy in bladder cancer patients. Analysts forecast a potential upside of 17.79% for Pfizer, with a projected price target of $28.95. The average recommendation from 25 firms is a "Hold" rating, while GuruFocus estimates a GF Value of $26.63, suggesting a potential upside of 8.34%.

Pfizer Inc. (NYSE: PFE) and Astellas Pharma Inc. (TSE: 4503) have reported positive topline results from the Phase 3 EV-303 clinical trial, which evaluated the combination therapy of Padcev (enfortumab vedotin) and Keytruda (pembrolizumab) for muscle-invasive bladder cancer (MIBC) patients ineligible for cisplatin-based chemotherapy. The study demonstrated a clinically meaningful and statistically significant improvement in event-free survival (EFS) and overall survival (OS) with the neoadjuvant and adjuvant Padcev plus Keytruda regimen compared to surgery alone [1].

The EV-303 trial enrolled patients with MIBC who were not eligible for cisplatin-based chemotherapy. The primary endpoint was EFS, defined as the time from randomization to the first occurrence of disease progression, failure to undergo radical cystectomy (RC) surgery, local or distant recurrence, or death due to any cause. The trial also evaluated OS and pathologic complete response (pCR) rate as secondary endpoints. The results showed a significant improvement in EFS and OS with Padcev plus Keytruda versus surgery alone, with a pCR rate also meeting the secondary endpoint [1].

Analysts have forecasted a potential upside of 17.79% for Pfizer based on the trial results, with a projected price target of $28.95. The average recommendation from 25 firms is a "Hold" rating, while GuruFocus estimates a GF Value of $26.63, suggesting a potential upside of 8.34% [2].

The trial is continuing to evaluate the secondary endpoints as they mature. Safety profiles for Padcev plus Keytruda and Keytruda monotherapy were consistent with the known profiles of each treatment regimen. The combination therapy is also being evaluated in cisplatin-eligible patients with MIBC in the EV-304 Phase 3 clinical trial [1].

References:
[1] Pfizer Inc. (NYSE: PFE) and Astellas Pharma Inc. (TSE: 4503). "Padcev plus Keytruda Significantly Improves Survival in Bladder Cancer Patients Ineligible for Cisplatin-Based Chemotherapy." Business Wire, July 2, 2025. [https://www.pfizer.com/news/press-release/press-release-detail/padcevtm-plus-keytrudatm-significantly-improves-survival](https://www.pfizer.com/news/press-release/press-release-detail/padcevtm-plus-keytrudatm-significantly-improves-survival)
[2] GuruFocus. "Pfizer Inc. (PFE) Analyst Ratings and Stock Price Targets." GuruFocus, July 2, 2025. [https://www.gurufocus.com/stock/PFE](https://www.gurufocus.com/stock/PFE)