PFE's decision is based on clinical data, which suggests that the overall benefit of the drug no longer outweighs the risk in the approved patient population.
Pfizer's decision late on Wednesday to withdraw its sickle cell disease treatment due to the risk of death could help speed up trials of new experimental rivals, Wall Street analysts said.
Pfizer (PFE) shares declined Thursday after the drug maker recalled all lots of its sickle cell disease medicine worldwide because of concerns it could lead to severe pain and possibly death in patients.
The European Medicines Agency (EMA) recommended suspending the marketing authorization for Pfizer's sickle cell disease drug Oxbryta on Thursday.
Pfizer stock (NYSE: PFE) is trading at about $30 per share, not far from the lows seen in recent years. Could the stock rise by over 2x in value over the next few years?
Verizon and Pfizer offer attractive dividend yields above 5%, supported by strong market positions. Both companies face challenges but have strategies in place to maintain their generous payouts.
Pfizer has so far signed up less than a quarter of the countries targeted under a plan to make its medicines available to the world's poorest nations at not-for-profit prices, just over two years after it launched.
W.P. Carey reduced its dividend after spinning off its office properties last year but still offers an ultra-high yield. Pfizer's been raising its dividend every year since 2009, and an unprecedented number of recently launched drugs could help it rise much further.
The benefits of Oxbryta no longer outweigh the risks, Pfizer says.
U.S. drugmaker Pfizer said on Wednesday it would voluntarily withdraw its therapy Oxbryta, used for the treatment of sickle cell disease, in all markets where it is approved.
Pfizer and Moderna's legal battle over their rival COVID-19 vaccines will continue after London's High Court on Wednesday gave Pfizer permission to take the case to the Court of Appeal.
Pfizer (PFE) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.