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.

Technorati Tags: ,

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: