👉 Background: Pfizer is an American-based pharmaceutical company that started in 1849. It became a household name during the pandemic for its COVID vaccine. But now, with its COVID vaccine revenue slowly drying up, it's looking for its new project.

👉 What happened: Pfizer now has its eyes on the lucrative weight-loss market, which is projected to grow to 16 times in size in the next 7 years.

👉 What else: Pfizer's developing their own weight-loss drug called danuglipron. It's a twice-daily pill (rather than injection, like Ozempic). And, Pfizer's convenient form of the drug could possibly give it a decent chunk of the weight-loss market - despite being a late-mover.

What's the key learning?

💡In the pharmaceutical industry, the late mover advantage can often be focused more on making the drug more convenient, rather than more effective.

💡While Novo Nordisk's Ozempic is a weekly injection, Pfizer's new drug danuglipron is a twice-daily pill. And, having a drug that's easier to consume could give Pfizer an advantage to steal some market share.

💡Pfizer has pulled a move like this before. In the late 80's, Merck came out with a cholesterol drug that revolutionised the market but needed to be taken multiple times a day. A few years later, Pfizer came out with its competitor Lipitor which only needed to be taken once a day. And, it quickly became Pfizer's top selling drug ever.