3 Reasons to Buy Pfizer Stock

Many investors are having a hard time finding good reasons to invest in Pfizer (NYSE: PFE) right now, at least if we go by the company's performance in the stock market this year. Pfizer's shares are down by 29% since January -- an abysmal showing, especially considering that the broader market has largely recovered after last year's downturn.

Pfizer is suffering from the monumental decline in sales for its coronavirus portfolio and the uncertainty this industry will continue to face. But even with these headwinds, there are plenty of excellent reasons to invest in Pfizer. Let's consider just three of them.

For drugmakers, the key to remaining relevant and improving their businesses over time is pretty simple, at least in theory. They need to develop new medicines or vaccines to replace older ones that run out of patent exclusivity. However, doing so is costly and time-consuming, and even pharmaceutical giants may not launch many new products in a given year.

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Source Fool.com