Low volume on a green day. Are you in this as a turnaround play? This stock has performed terrible in last year. Just curious.. good luck to you either way.
https://www.cnbc.com/2024/03/10/pfizer-is-betting-big-on-cancer-drugs-after-covid-decline.html Pfizer is betting big on cancer drugs to turn business around after Covid decline – here’s what to know PUBLISHED SUN, MAR 10 20248:00 AM EDT Annika Kim Constantino@ANNIKAKIMC WATCH LIVE KEY POINTS Pfizer is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. The pharmaceutical giant has been trying to shore up investor sentiment after its shares fell more than 40% in 2023. Pfizer says its combined drug pipeline with cancer drugmaker Seagen could produce at least eight blockbuster medicines by 2030. Nurphoto | Nurphoto | Getty Images Pfizer is ready to move on from Covid. Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. It just might take a while before that bet pays off. Pfizer pitched its deeper push into oncology during a four-hour investor event last week. And it had a splashy 60-second Super Bowl ad that touted its initiative to “outdo cancer.” The shift comes at a crucial time for Pfizer. The pharmaceutical giant has been trying to shore up investor sentiment after its shares fell more than 40% in 2023. That share drop erased more than $100 billion in Pfizer’s market value. Along with plummeting demand for its Covid products, Pfizer disappointed Wall Street last year with the underwhelming launch of a new RSV shot, a twice-daily weight loss pill that fell short in clinical trials and a 2024 forecast that missed expectations. The company has launched a $4 billion cost-cutting program, laying off hundreds of employees and shaving down its research and development spending. During the investor day, Pfizer laid out its priorities now that it has fully integrated with the targeted cancer drugmaker Seagen. That $43 billion Seagen acquisition doubled Pfizer’s oncology drug pipeline to 60 different experimental programs. With Seagen under its belt, Pfizer says its drug pipeline could produce at least eight blockbuster medicines by 2030, up from just five today. But the company did not disclose which drugs it believes could offer that potential. Some analysts noted that it might take a few years for some of Pfizer’s cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Pfizer’s existing oncology portfolio is also facing some competitive pressure. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. Both drugs are expected to lose market exclusivity in 2027. Still, some analysts came out of the investor day feeling encouraged. “The company is facing a number of challenges, but we believe the event was a success in laying out a path for the oncology business to help offset upcoming patent losses, and drive growth in the future,” Guggenheim analysts wrote in a note Tuesday. Joe Biden’s Inflation Reduction Act. A provision of that law allows Medicare to start negotiating the prices of biologics as early as 13 years after they receive Food and Drug Administration approval, compared with just nine years for small-molecule drugs. The pharmaceutical industry has argued that would deter drugmakers from investing in small molecules. Pfizer’s decision to rely more on biologics may also offer “better protection” against competition from cheaper copycats, Guggenheim analysts said in their note. Those copycats, or biosimilars, have historically had trouble gaining market share from biologic treatments. That’s unlike with drugs called generics, which are exact copies of small-molecule treatments. Small molecules will remain one of three core drug types of Pfizer’s oncology division. The other two are biologics, namely bispecific antibodies, and antibody-drug conjugates, or ADCs. Pfizer’s three core oncology drug types Small-molecule drugs: Treatments with a low molecular weight made up of chemicals created in a lab. Bispecific antibodies: Treatments that can bind to two different antigens — or any substance that causes the body to have an immune response — at the same time. Those drugs are biologics because they are developed from living sources that produce antibodies. Antibody-drug conjugates: Medications that deliver a cancer-killing therapy to specifically target and kill cancer cells and minimize damage to healthy ones. The treatments represent a hybrid between biologics and small-molecule drugs, but the FDA classifies ADCs as biologics. Notably, the company is developing a “next-generation” platform for ADCs that combines Pfizer’s protein engineering and antibody design capabilities with Seagen’s ADC technology. Together, the companies have 12 ADCs in development, six of which are in early clinical trials or studies on animals. JPMorgan analyst Chris Schott wrote in a note last week that the firm walked away from the investor event encouraged by the breadth of Pfizer’s mid-stage oncology pipeline. But he noted that it will take time before a number of the treatments show “pivotal data.” [paste:font size="5"]sales in 2023. But the company said it has a handful of breast cancer drugs in development that could become “potential growth drivers” as Ibrance sales fall. That includes a certain type of treatment called atirmociclib that could potentially be more effective and easier for patients to tolerate. Pfizer is testing the medicine as a second-line treatment for a certain type of breast cancer in a phase three trial. A second-line therapy is given when an initial treatment doesn’t work or stops working. The company also plans to start a separate late-stage trial on atirmociclib as a first treatment for the same condition in the second half of the year. Revenue split for Pfizer’s oncology division Breast Genitourinary Hematology-oncology Thoracic Other 2023 2030 AND BEYOND Graphic: Gabriel Cortes / CNBC Source: Pfizer Pfizer expects genitourinary cancer to make up an estimated 35% of oncology sales by 2030, which would make it the largest franchise of the cancer business. That’s up from 20% in 2023. Pfizer is testing an experimental ADC called disitamab vedotin — which Seagen licensed from Chinese firm RemeGe — as a treatment for certain bladder cancers, with data from mid-stage and late-stage trials expected in 2025 and 2026. Notably, RemeGe already sells that drug in China. Pfizer is also examining the medicine’s potential to treat breast cancer and other tumor types. Meanwhile, Padcev, an ADC Pfizer shares with Astellas Pharma, in combination with Merck’s immunotherapy Keytruda is becoming a new first-line standard of care for bladder cancer. Pfizer executives last week said Padcev had “mega-blockbuster” potential, which the company defines as raking in annual sales of more than $3 billion. Pfizer’s key cancer drugs on the U.S. market Ibrance: treatment for certain breast cancers. Xtandi: treatment for four types of advanced prostate cancer. Adcetris: treatment for certain lymphomas from Seagen. Padcev: treatment for some types of advanced bladder cancer, either alone or in combination with Keytruda. Elrexfio: treatment for certain adults with multiple myeloma. Talzenna: treatment for some breast cancers. Lorbrena: treatment for a type of non-small cell lung cancer. Pfizer executives expect thoracic cancer to double its revenue contributions by 2030. Seagen brings an ADC called sigvotatug vedotin to this franchise. The drug recently entered a late-stage trial as a second-line treatment for a certain type of lung cancer, with data expected around 2026 to 2027. Pfizer also plans to test the ADC as a first-line treatment. Guggenheim analysts said they expect the treatment to be one of Pfizer’s blockbuster oncology drugs by the end of the decade. Those analysts also expect a bispecific drug called Elrexfio, which falls under Pfizer’s hematology-oncology portfolio, to eventually become a top seller. The hematology-oncology franchise is expected to account for 25% of the cancer unit’s sales by 2030, up from just 10% in 2023. The FDA has approved Elrexfio for patients with multiple myeloma who have tried at least four prior types of therapy. But Pfizer is conducting two late-stage clinical trials on Elrexfio as a second-line treatment, with data not expected until around 2025 and 2026. 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Great day $PFE @pfizer up some out of red looks good more this week! Broke downtrend easy money today!
I opened a small position in PFE when at < $30. I may add to it on dips, depending on the price and circumstances. It seems like a fairly safe bet, with more upside potential than downside and currently paying well over 5%. None of my market market or CD cash equivs are currently paying more than PFE. Close - some VERY close - but no cigar. I see no reason not to hold it.
Could be a bottom put in. Time to invest? +4.12% Pfizer's (PFE) stock moved higher in Tuesday's pre-market trading after the pharmaceutical giant issued an upbeat full-year outlook for 2025. The company projected annual sales between $61 billion and $64 billion, with earnings per share estimates at $2.80 to $3 — both metrics coming in line with Wall Street projections.
At less that $28 a share, I think PFE is a good buy. I'm not looking to turn a quick profit. Paying more than 6% dividends with - in my opinion - strong potential for upside, what's not to like? I own some of this, and probably will for the foreseeable future. Probably will continue to buy on dips, then HOLD when it starts to climb. I added just 6 shares during the last month, at an average price of < $26 / share. I've been slowly adding to my position on dips through most of 2024. This is a long term investment for me, but a very small piece of my overall portfolio. I am highly diversified.
