3 Reasons to Buy Pfizer Stock Now
The perception of a company can often be overwhelmed by the success of a single one of its products. Investors counting the tens of millions of iPhones sold every quarter over the past decade whipsawed Apple's stock up and down based on numbers that, in hindsight, weren't that important. To a lesser degree, the same thing may now be happening to Pfizer (NYSE: PFE). News of potential COVID-19 vaccines seems to refresh every day, and with it, investors' expectations. But there are more reasons to buy Pfizer stock than just the headline-grabbing coronavirus vaccine, BNT162b2.
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Of course discussions of Pfizer start with the company's COVID-19 vaccine -- developed with partner BioNTech (NASDAQ: BNTX) -- to prevent infection by the SARS-CoV-2 virus. The vaccine, which uses messenger RNA (mRNA) technology, has demonstrated 95% effectiveness in preventing COVID-19. Just this week, the vaccine was administered to the first patients in the U.K. and received distribution approval in Canada. After the U.S. Food and Drug Administration (FDA) confirmed the positive results on Dec. 8, approvals in the U.S. are almost certainly close behind. An FDA advisory board is set to meet today, Dec. 10, to discuss Pfizer's application for BNT162b2's Emergency Use Authorization (EUA).
Source Fool.com