Pfizer’s alopecia drug for teens and adults approved by FDA

Pfizer Inc.
PFE,
-1.11%
said late Friday that its drug ritlecitinib, sold under the brand name of Litfulo, has been approved by the U.S. Food and Drug Administration to treat adults and teens suffering from severe alopecia areata. It would be the first and only treatment for the autoimmune illness approved for patients as young as 12, the pharma giant said. Shares of Pfizer edged lower in after-hours trading Friday after ending the regular trading day down 1.1%.