Big pharma needs a miracle drug. The major drug makers are so beaten down that in some instances dividend yields, rather than the next blockbuster drug in the pipeline, are what are propping up the stocks.
Take Pfizer. At its May 7 close of $19.92, the stock is off 28% since last June and is 60% below its all-time high, set in 1999.
Talk about a lost decade.
More at the WaPo.
http://www.kiplinger.com/
1 comment:
The pyramid scheme of big pharma is over. The FDA is onto their lline extension schemes and the whole thing is on the verge of collapse. The entire industry pipeline will only replace 50% of the brands going off patent by 2012. Better take yoour money out and buy oil stocks.
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