European Commission Approves BAVENCIO® (avelumab) for First-Line Maintenance Treatment of Locally Advanced or Metastatic Urothelial Carcinoma

- BAVENCIO maintenance treatment significantly extended median overall survival versus standard of care in the Phase III JAVELIN Bladder 100 study

- First and only immunotherapy to demonstrate a significant overall survival benefit in the first-line setting in a Phase III trial

- BAVENCIO first-line maintenance therapy is recommended for use by the ESMO Bladder Cancer Guidelines

Not intended for US-,Canada- and UK-based media

DARMSTADT,Germany and NEW YORK,Jan. 25,2021 --Merck and Pfizer Inc. (NYSE: PFE) today announced that the European Commission (EC) has approved BAVENCIO® (avelumab) as monotherapy for the first-line maintenance treatment of adult patients with locally advanced or metastatic urothelial carcinoma (UC) who are progression-free following platinum-based chemotherapy.

"Avelumab is the only immunotherapy to demonstrate a significant improvement in overall survival in the first-line setting in a Phase III study in advanced or metastatic bladder cancer. With this approval by the European Commission,we can now offer patients a potential new first-line maintenance standard of care that may help them live longer," said Professor Thomas Powles,MD,Director of Barts Cancer Centre,London,UK.

In the pivotal JAVELIN Bladder 100 trial,BAVENCIO plus best supportive care (BSC) as first-line maintenance demonstrated a significant improvement in median overall survival (OS) vs BSC alone at the prespecified interim analysis (data cut-off date Oct. 21,2019): 21.4 months (95% CI: 18.9 to 26.1) vs 14.3 months (95% CI: 12.9 to 17.8) in the coprimary population of all randomized patients (HR 0.69; 95% CI: 0.56 to 0.86).1 In the coprimary population of patients with PD-L1+ tumors (n=358),OS was also significantly longer with BAVENCIO plus BSC (median not reached; 95% CI: 20.3,not reached) vs BSC alone (17.1 months; 95% CI: 13.5,23.7; HR 0.56; 95% CI,0.40 to 0.79).1,2 Based on these data,the BAVENCIO first-line maintenance regimen was added to the recently updated ESMO Clinical Practice Guidelines for bladder cancer.3

Updated OS results with a data cut-off of Jan. 19,2020 also showed BAVENCIO significantly extended OS among all randomized patients vs BSC alone (HR 0.70; 95% CI,0.56 to 0.86; two-sided P=0.0008),with median OS of 22.1 months (95% CI,19.0 to 26.1) vs 14.6 months (95% CI,12.8 to 17.8),respectively.1

"Today's announcement is the latest example of our decades-long commitment to developing new treatments for people with genitourinary cancers," said Andy Schmeltz,Global President,Pfizer Oncology. "This approval by the EC addresses an urgent unmet need,and we look forward to providing a new treatment option for people in Europe with locally advanced or metastatic urothelial carcinoma."

"This approval allows us to extend the reach of BAVENCIO to even more patients with bladder cancer and offer the hope of extended survival," said Rehan Verjee,President of North America and Global Head of Innovative Medicine Franchises for the Healthcare business sector of Merck. "This is a clear demonstration of our commitment to transform standards of care in cancer."

BAVENCIO was first approved in the US as a first-line maintenance treatment for advanced UC bythe US Food and Drug Administration (FDA) in June 2020 and is now approved for this indication in 38 countries. Additional regulatory applications are under review in 13 countries,including in Japan,where approval is expected in H1 2021.

About Advanced Urothelial Carcinoma

Bladder cancer is the tenth most common cancer worldwide.4 Nearly 204,000 people in Europe were diagnosed with bladder cancer across all stages in 2020,and more than 67,000 patients died from the disease,despite available treatments.4UC is the most common form of bladder cancer,accounting for about 90% of cases.5 UC becomes harder to treat as it advances.6 For patients diagnosed with metastatic UC,the five-year survival rate is 5%.7

About JAVELIN Bladder 100

JAVELIN Bladder 100 (NCT02603432) is a Phase III,multicenter,multinational,randomized,open-label,parallel-arm study investigating first-line maintenance treatment with BAVENCIO plus best supportive care (BSC) versus BSC alone in patients with locally advanced or metastatic UC. A total of 700 patients whose disease had not progressed after platinum-based induction chemotherapy as per RECIST v1.1 were randomly assigned to receive either BAVENCIO plus BSC or BSC alone. The primary endpoint was OS in the two primary populations of all patients and patients with PD-L1+ tumors.

About BAVENCIO® (avelumab)

BAVENCIO is a human anti-programmed death ligand-1 (PD-L1) antibody. BAVENCIO has been shown in preclinical models to engage both the adaptive and innate immune functions. By blocking the interaction of PD-L1 with PD-1 receptors,BAVENCIO has been shown to release the suppression of the T cell-mediated antitumor immune response in preclinical models.8-10 In November 2014,Merck and Pfizer announced a strategic alliance to co-develop and co-commercialize BAVENCIO.

BAVENCIO Approved Indications

The European Commission (EC) has authorized the use of BAVENCIO as monotherapy for the first-line maintenance treatment of adult patients with locally advanced or metastatic urothelial carcinoma (UC) who are progression-free following platinum-based chemotherapy. BAVENCIOin combination with axitinib is indicatedfor the first-line treatment of adult patients with advanced renal cell carcinoma (RCC). BAVENCIO is also authorized by the EC for use as a monotherapy for the treatment of adult patients with metastatic Merkel cell carcinoma (MCC).

In the US,BAVENCIO is indicated for the maintenance treatment of patients with locally advanced or metastatic urothelial carcinoma (UC) that has not progressed with first-line platinum-containing chemotherapy. BAVENCIO is also indicated for the treatment of patients with locally advanced or metastatic UC who have disease progression during or following platinum-containing chemotherapy,or have disease progression within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.

BAVENCIO in combination with axitinib is indicated in the US for the first-line treatment of patients with advanced RCC. Additionally,the US Food and Drug Administration (FDA)granted accelerated approval for BAVENCIO for the treatment of adults and pediatric patients 12 years and older with metastatic MCC. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

BAVENCIO is currently approved for patients in 50 countries for at least one use.

BAVENCIO Safety Profilefrom the EU Summary of Product Characteristics (SmPC)

The special warnings and precautions for use for BAVENCIO monotherapy include infusion-related reactions,as well as immune-related adverse reactions that include pneumonitis and hepatitis (including fatal cases),colitis,pancreatitis (including fatal cases),myocarditis (including fatal cases),endocrinopathies,nephritis and renal dysfunction,and other immune-related adverse reactions. The special warnings and precautions for use for BAVENCIO in combination with axitinib include hepatotoxicity.

The SmPC list of the most common adverse reactions with BAVENCIO monotherapy in patients with solid tumors includes fatigue,nausea,diarrhea,decreased appetite,constipation,infusion-related reactions,weight decreased and vomiting. The list of most common adverse reactions with BAVENCIO in combination with axitinib includes diarrhea,hypertension,fatigue,dysphonia,hypothyroidism,cough,headache,dyspnea,and arthralgia.

About Merck-Pfizer Alliance

Immuno-oncology is a top priority for Merck and Pfizer. The global strategic alliance between Merck and Pfizer enables the companies to benefit from each other's strengths and capabilities and further explore the therapeutic potential of BAVENCIO,an anti-PD-L1 antibody initially discovered and developed by Merck. The immuno-oncology alliance is jointly developing and commercializing BAVENCIO. The alliance is focused on developing high-priority international clinical programs to investigate BAVENCIO as a monotherapy as well as combination regimens,and is striving to find new ways to treat cancer.

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Scientific exploration and responsible entrepreneurship have been key to Merck's technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada,where the business sectors of Merck operate as EMD Serono in healthcare,MilliporeSigma in life science,and EMD Performance Materials.

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Pfizer Disclosure Notice

The information contained in this release is as of January 25,2021. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about BAVENCIO (avelumab),including a new indication in the EU for BAVENCIO as monotherapy for the first-line maintenance treatment of adult patients with locally advanced or metastatic urothelial carcinoma (UC) who are progression-free following platinum-based chemotherapy,the alliance between Merck and Pfizer involving BAVENCIO and clinical development plans,including their potential benefits,that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include,among other things,uncertainties regarding the commercial success of BAVENCIO; the uncertainties inherent in research and development,including the ability to meet anticipated clinical endpoints,commencement and/or completion dates for our clinical trials,regulatory submission dates,regulatory approval dates and/or launch dates,as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; risks associated with interim data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any drug applications may be filed for BAVENCIO for first-line maintenance treatment of patients with locally advanced or metastatic urothelial carcinoma in any additional jurisdictions or in any jurisdictions for any other potential indications for BAVENCIO or combination therapies; whether and when regulatory authorities in any jurisdictions where any other applications are pending or may be submitted for BAVENCIO or combination therapies,including BAVENCIO for locally advanced or metastatic urothelial carcinoma may approve any such applications,which will depend on myriad factors,including making a determination as to whether the product's benefits outweigh its known risks and determination of the product's efficacy,and,if approved,whether they will be commercially successful; decisions by regulatory authorities impacting labeling,manufacturing processes,safety and/or other matters that could affect the availability or commercial potential of BAVENCIO,including BAVENCIO for locally advanced or metastatic urothelial carcinoma; uncertainties regarding the impact of COVID-19 on Pfizer's business,operations and financial results; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31,2019,and in its subsequent reports on Form 10-Q,including in the sections thereof captioned "Risk Factors" and "Forward-Looking Information and Factors That May Affect Future Results",as well as in its subsequent reports on Form 8-K,all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com.

References

BAVENCIO® (avelumab) EU SmPC. http://www.ema.europa.eu/ema/.Accessed February 2021.

Powles T,Park SH,Voog E,et al. Avelumab maintenance therapy for advanced or metastatic urothelial cancer. N Engl J Med. 2020;383:1218-1230.

ESMO.org. eUpdate- Bladder cancer treatment recommendations. https://www.esmo.org/guidelines/genitourinary-cancers/bladder-cancer/eupdate-bladder-cancer-treatment-recommendations4. Accessed January 2021.

IARC. Bladder Fact Sheet: GLOBOCAN. https://gco.iarc.fr/today/data/factsheets/cancers/30-Bladder-fact-sheet.pdf. Accessed January 2021.

Cancer.net. Bladder cancer: introduction. https://www.cancer.net/cancer-types/bladder-cancer/introduction. Accessed January 2021.

American Cancer Society. What is bladder cancer? https://www.cancer.org/cancer/bladder-cancer/about/what-is-bladder-cancer.html. Accessed January 2021.

SEER. Cancer stat facts: bladder cancer. https://seer.cancer.gov/statfacts/html/urinb.html. Accessed January 2021.

Dolan DE,Gupta S. PD-1 pathway inhibitors: changing the landscape of cancer immunotherapy. Cancer Control. 2014;21(3):231-237.

Dahan R,Sega E,Engelhardt J,et al. FcγRs modulate the anti-tumor activity of antibodies targeting the PD-1/PD-L1 axis. Cancer Cell. 2015;28(3):285-295.

Boyerinas B,Jochems C,Fantini M,et al. Antibody-dependent cellular cytotoxicity activity of a novel anti-PD-L1 antibody avelumab (MSB0010718C) on human tumor cells. Cancer Immunol Res. 2015;3(10):1148-1157.

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