FDA Approves XELJANZ — Pfizer Laboratories Div Pfizer Inc

FDA approved XELJANZ (tofacitinib citrate) from Pfizer Laboratories, a new oral treatment for rheumatoid arthritis, paving the way for the company to capture a significant share of the JAK inhibitor market. This pivotal approval marked a strategic advancement for Pfizer, expanding its oncology pipeline by diversifying its portfolio into immunology and strengthening its competitive position against both established and emerging rivals.