03:40 PM EST, 02/24/2026 (MT Newswires) -- Pfizer ( PFE ) received full approval from the US Food and Drug Administration for its drug Braftovi in combination with Erbitux and fluorouracil-based chemotherapy for the treatment of adults with BRAF V600E-mutated metastatic colorectal cancer.

The conversion from accelerated approval was based on "significant benefit in outcomes" for both progression-free survival and overall survival in a Phase 3 study, Pfizer ( PFE ) said Tuesday in a statement.

The Braftovi combination is under regulatory review in Europe and has been approved in several other countries, Pfizer ( PFE ) said.

Eli Lilly ( LLY ) manufactures and commercializes Erbitux in North America.

Pfizer ( PFE ) shares rose 0.3% in Tuesday trading, and Lilly fell 1.4%.

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