's (NYSE: PFE) stock performance has been disappointing this year (down 38%). The company has faced multiple challenges, such as declining revenues from COVID-19 products, looming patent cliffs for key drugs like Eliquis later this decade, and strategic uncertainties for some of its more recent acquisitions.

For example, Pfizer bought Global Blood Therapeutics and Arena Pharmaceuticals to expand its portfolio in rare blood and autoimmune diseases, respectively. However, these assets are not without competition, and their long-term potential may be limited by rivals with potentially superior clinical profiles.

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Source Fool.com