BioCentury
ARTICLE | Finance

Pfizer needs to prove it's a growth story

Pfizer needs to show the market that it is indeed a growth story if it hopes to win back investors

August 3, 2019 12:37 AM UTC

With shares of Pfizer trading near a 52-week low in the wake of its deal with Mylan, the pharma will need to show the market that it is indeed a growth story if it hopes to win back disenchanted investors.

Pfizer Inc. (NYSE:PFE) shares were hammered after the company released a flurry of news Monday that included a complicated deal with Mylan N.V. (NASDAQ:MYL) for Pfizer’s underperforming Upjohn unit that seeks to transform the company into a smaller but faster-growing company focused on innovative drugs. The stock dropped 11% on the week, with shares hitting a 52-week low of $37.68 before settling at a close of $38 on Friday for a loss of $26 billion in market cap. ...