TAK - Pfizer: Seagen Acquisition Starting To Bear Fruit
2024-03-12 13:05:20 ET
Summary
- Pfizer's share price has stabilized since the company provided 2024 revenue and EPS guidance in late 2023.
- The success of Adcetris in a trial for relapsed/refractory DLBCL is a positive step for Pfizer's oncology pipeline and the first win since the Seagen acquisition closed.
- Pfizer's long-term growth strategy in oncology, including the Seagen acquisition, is expected to contribute significantly to revenue growth in the coming years.
Shares of Pfizer Inc. ( PFE ) are little changed since my early December 2023 update where I covered the obesity pipeline setbacks and how my earlier call for a late summer bottom was not playing out as expected. Since then, the company lowered expectations for 2024 by guiding below Street expectations, and this may have been a kitchen-sink event that could allow the stock to start to recover and for forward estimates to stabilize and potentially start trending higher....
Pfizer: Seagen Acquisition Starting To Bear Fruit