Pfizer drops the bomb on investors

A mere 3 days after painting a rosy outlook for investors and talking about its “robust drug pipeline,” Pfizer killed development for its star candidate due to an unexpected number of deaths and “cardiovascular events” (usually heart attacks or other serious heart damage). This is the drug for which Pfizer released information about elevated blood pressure just a few months ago, and while analysts considered those dark clouds on the horizon, no one anticipated the clouds to grow to such monstrous proportions so quickly.

And, while I know no one likes to talk about the potential for hugely bad news such as this for their products under development, this news does seem a bit sudden.

Pfizer closed at 27.86 on Friday. Let’s see how low they go on Monday.

Update: Dr. Peter Rost comments, and doesn’t mince words.

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