Last year, pharmaceutical giant (NYSE: PFE) encountered several issues, none more significant than the massive drop in revenue and earnings it experienced due to a shrinking coronavirus market. Investors reacted by selling off the stock, leading to a catastrophic performance for the drugmaker.

However, despite its recent struggles, there remain excellent reasons to invest in Pfizer stock. In fact, let's consider seven of them right now.

It's not that rare for drugmakers to go through periods of declining sales. Usually, it is because of patent cliffs. In Pfizer's case, it set the bar incredibly high in 2021 and 2022 thanks to its coronavirus products. Whatever the reason, there is a simple way to remedy matters for any pharmaceutical company that finds itself in this situation. The key is to launch brand-new products on the market, ones that will eventually fill the holes left by older ones whose sales are declining.

Continue reading

Source Fool.com