2024-04-19 07:03:48 ET
Summary
- Since my last article, the company's share price has fallen about 10% despite its quarterly revenue growth and achieving significant success in developing experimental drugs.
- In addition to growing sales of next-generation drugs such as Ngenla, Bosulif, Padcev, Oxbryta, and Abrysvo, the company's dividend yield exceeds 6.5%.
- So, sales of Abrysvo amounted to $515 million in the fourth quarter of 2023, an increase of 37.3% compared to the previous quarter.
- On April 9, 2024, Pfizer announced positive results from a pivotal clinical trial evaluating Abrysvo's efficacy against respiratory syncytial virus.
- Consequently, I am upgrading Pfizer's rating from 'Buy' to 'Strong Buy'.
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For further details see:
Unveiling Pfizer's Potent Cocktail: Key Drivers Of Free Cash Flow Growth