Has Pfizer Inc (NYSE:PFE) Made Right Investment?

Posted by Michael Korte October 21, 2013 0 Comment 2430 views

Pfizer Inc (NYSE:PFE) is developing an investigational drug, PF-06463922. This drug has a strong potential of becoming the latest treatment option for those who are suffering from lung cancer and harbor abnormalities in the ALK-gene. This was found in the preclinical-results that were presented at the Molecular Targets and Cancer Therapeutics Conference- AACR-NCI-EORTC International Conference that was held from 19-23 October. Around 3%-5% percent of lung-cancers have ALK-gene abnormalities. Crizotinib, the drug that blocks the ALK protein-kinase activity, had been approved in 2011 August by the United States FDA and was to be used in patients who suffered from these lung cancers. Although there were very robust responses to crizotinib, for lung cancers that harbored ALK-gene abnormalities, a large percentage of those  eventually turn resistant to drug’s effects. In a large number of cases, the resistance surfaces due to genetic-mutations in ALK.

Friday’s trading

In Friday’s trading, Pfizer Inc (NYSE:PFE) rose by 0.83%. The opening price of the shares was $30.19, which climbed to an intraday high of $30.74 and dipped to a close of $30.51. Approximately 43.56 million shares were traded on Friday while an average volume of 26.49 million shares were traded over a 30 day period. The 52-week low of Pfizer Inc (NYSE:PFE) shares is $23.55 and its 52-week high is $31.15. The company has a market capitalization of $201.99 billion.

About the company

Pfizer Inc (NYSE:PFE) is a global, research-based, bio-pharmaceutical company. It manages its company operations via 5 segments: 1) Primary Care; 2) Specialty Care & Oncology; 3) Established Products & Emerging Markets; 4) Animal Health and Consumer Healthcare, and 5) Nutrition. Pfizer Inc (NYSE:PFE)’s diversified global healthcare-portfolio includes animal and human biologic and small-molecule vaccines & medicines and consumer healthcare and nutritional products. Its Animal Health business-unit is involved in the discovery, development and sale of products that are used in the prevention & treatment of various diseases in companion animals and livestock.

About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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