Is Pfizer Stock a Buy?
The COVID-19 pandemic is creating many problems in the healthcare industry, from hospitals struggling to treat patients with the disease (and deferring elective procedures in the process) to patients foregoing necessary care. But it's also highlighting just how important, and essential, healthcare companies and drug manufacturers are right now. And one of the biggest names in the industry is Pfizer (NYSE: PFE).
Pfizer's business is undergoing many changes, and it could look very different a year from now. The company is also working on a potential vaccine for COVID-19. There are many moving parts that make it complex to assess where the company is today, where it's headed, and whether the stock is a good buy. Let's take a closer look at Pfizer and evaluate whether its stock is worth investing in.
In its second-quarter results, released July 28, the New York-based company reported $11.8 billion in revenue, a 9% decline from the prior-year period. The biopharma segment still did well, with sales rising by 4%. It was Pfizer's generics business, Upjohn, that dragged results down, as revenue there declined by 32% -- largely because it lost exclusivity to seizure medication Lyrica in 2019 . Pfizer is spinning off Upjohn, which will join Mylan in a transaction that the company expects to close in the fourth quarter.
Source Fool.com
