Health and Healthcare
Winners as Pfizer Loses Lipitor Patent (PFE, TEVA, MYL, WPI)
Published:
Last Updated:
Pfizer Inc. (NYSE: PFE) has a big day ahead of it. While it has been known for years, it is a massive date: Lipitor goes off-patent and will have generic versions of the statin drug competitors. Big deal? The last quarter’s annualized Lipitor sales was about $6 billion and the peak sales were well above $10 billion.
Canaccord Genuity’s specialty pharma analyst Randall Stanicky believes that generics will have 60% market share in 2012. How the pie is divided is still subject to uncertainty and the analyst sees three possible scenarios:
As far as what others expect from Pfizer, two weeks ago brought a Leerink Swann downgrade where Pfizer was cut to “Market Perform.” All in all, Thomson Reuters shows a consensus price target objective from analysts as being $23.36. At $19.35 today, Pfizer’s 52-week range is $16.27 to $21.45.
Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) has been battered enough this year that this would be a big deal for its stock if there was a blowout win coming its way. Instead, shares are only up 0.6% at $38.51 while its 52-week range is $35.00 to $57.08. It would be up more if everyone thought this was a win for Teva. Watson Pharmaceuticals, Inc. (NYSE: WPI) is up 3% at $67.80.
JON C. OGG
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.