Pfizer Inc. (NYSE:PFE) is struggling to find new sources of growth given that its blockbuster drugs are losing patent protection. The company has had Viagra which is used for erectile dysfunction and Celebrex which is used for arthritis as two of its best selling drugs. However, things have change and if not, they are about to change in such a manner that PFE will be impacted by lower revenue unless fresh revenue sources are tapped. Currently analysts expect 2014 sales to slid 3 percent to just about $49.9 billion. It is good news for PFE investors that the company and Merck & Co., Inc. (NYSE:MRK) have announced collaboration towards the development of a new cancer drug. Shares of Pfizer Inc. (NYSE:PFE) lost 0.19 percent of their value to settle at $31.88 in the last session. Pfizer Inc. (NYSE:PFE) stock opened at $631.25 in last session, and closed at $31.48, while the day range of PFE stock is $31.44-$31.99.The stock showed a negative weekly performance of -1.25%.
Merck & Co., Inc. (NYSE:MRK) the pharma company which makes consumer care products and biologic therapies has decided to shed some weight. Rightfully, so claim most analysts who have been watching this multi-national grow into the $162.25 billion dollar company. Coming up for heave-off is consumer brands division. As per estimated valuations, the division is worth over $10 billion. In-line with industry trend to move out of less revenue-earning divisions and consolidating high revenue sections, Merck is definitely a step away from evolving into a new form. Fortunately, for Merck & Co., Inc. (MRK) with the vaccine and animal –health also part of its consumer brand, Financial Services provider Morgan Stanley is scouting for the perfect partner to heave-off the division on behalf of Merck & Co. Merck & Co., Inc. (NYSE:MRK) stock opened at $55.44, in last session and closed at $55.04, by loosed -1.17%.The 52 week range was $41.58-$55.92.Company’s market capitalization is $161.08 billion.
Bristol-Myers Squibb Co (NYSE:BMY) BoehringerIngelheim, the German drugmaker said on Wednesday that the hearing on lawsuits filed against its stroker prevention drug, Pradaxa will start in August. Boehringer’sPradaxa competes with the Bristol Myers Squibb Co. (NYSE:BMY) pill and is facing over 2,000 lawsuits in America with claimants alleging that the pills caused severe and fatal bleeding. Moreover, Boehringer is accused of being ignorant in labelling Pradaxa for the associated risks. While, Boehringer said that the side effects attached to the pill was known, but it were not significant in comparison to the life-saving ability of the drug. Bristol-Myers Squibb Co (NYSE:BMY) stock loosed -2.14% and finished the last session at $53.46.The EPS of the stock remained 1.54.Company’s market capitalization is $88.22 billion.
Johnson & Johnson (NYSE:JNJ) stock had its “neutral” rating restated by Zacks in a research note issued to investors on Monday, AR Network reports. They currently have a $97.00 price target on the stock. Zacks price target suggests a potential upside of 5.24% from the stock’s previous close. Johnson & Johnson (NYSE:JNJ) stock opened the session at $92.15, and closed the session at $91.64.The 52 week range of the JNJ stock remained $75.50-$95.99 and the day range was $91.57-$92.75.
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