Stocks have rallied this year, but one of the world's most famous pharma companies didn't join the party. (NYSE: PFE), known for its billion-dollar coronavirus products -- the vaccine Comirnaty and the treatment Paxlovid -- saw its shares drop about 40%.
The declines came for two reasons. First, investors worried about sales of Pfizer's coronavirus products in a post-pandemic world. And second, some of Pfizer's older blockbusters face patent expirations in the coming years. All of this means revenue is set to fall, at least in the near term. And that doesn't delight investors.
At the same time, it's important to take a look at the complete picture. This includes Pfizer's newer programs and what they may deliver in the future, as well as the company's valuation today. Is Pfizer a buy right now -- or a stock to avoid? Let's find out.
Source Fool.com