Pfizer Inc. (NYSE:PFE) has three out of six late-stage drugs intended for cancer treatments and this reveals the new strategy that the company has recently adopted. Of late Pfizer Inc. (NYSE:PFE) is seen channeling or trying to channel resources into oncology and immunology instead of cardiovascular. Perhaps the reason behind this is that cancer is a key growth area compared to cardiovascular that is already flooded with generics. But even as PFE turns attention to cancer treatment, we can expect the company to trim its research and development spending due to reduced focus on cardiovascular activities. Pfizer needs fresh revenue opportunities as its legacy drugs decline in revenue. Shares of Pfizer Inc. (NYSE:PFE) lost 40 cents each in the last session, and ended up the day south at $31.48 per share. Pfizer Inc. (NYSE:PFE) stock opened at $31.34 in last session, and closed at $31.55, while the day range of PFE stock is $31.26-$31.27.The stock showed a negative weekly performance of -0.19%.
Partner Active Biotech announced yesterday that Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has decided to not to go ahead with the planned randomization stage of the Libretto trial as the current design is not aligned to the regulatory strategy. Libretto trial was planned for the cureof Relapsing Remitting Multiple Sclerosis (RRMS). Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) stock opened at $46.47, in last session and closed at $48.20, by gained 3.77%.The 52 week range was $36.26-$49.23. Company’s market capitalization is $45.67 billion.
According to the latest 13F filings, Sarissa Capital managed by Alex Denner revealed holding about 12 million shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) common stock. Given that amount of common stock ownership, the hedge fund’s stake in the biotech company is roughly 6.2 percent. Mr. Denner has expansive understanding of healthcare stocks. He previously served as healthcare and biotechnology portfolio funds manager at Morgan Stanley (NYSE:MS). That Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)’s latest leukemia drug Iclusig has been given market authorization in the U.S. and several other global markets is perhaps one of the reasons institutional and everyday investors are jostling for a position in ARIA. The stock lost 2.16 percent of its market value in the last session to close at $8.60. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) stock gained 1.51% and finished the last session at $8.73.The EPS of the stock remained -1.46.Company’s market capitalization is $1.62 billion.
SVP John Elicker sold 9,534 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $54.22, for a total value of $516,933.48. Following the transaction, the senior vice president now directly owns 32,740 shares in the Bristol-Myers Squibb Co (NYSE:BMY), valued at approximately $1,775,163.Bristol-Myers Squibb Co (NYSE:BMY) stock opened the session at $53.64, and closed the session at $53.85.The 52 week range of the BMY stock remained $36.31-$56.83 and the day range was $53.44-$53.90.