Is Pfizer Winning Its $43 Billion Bet?
(NYSE: PFE) is one of the most successful pharmaceutical companies ever. In 2022, it brought in more than $100 billion in revenue -- a record for itself and for the entire industry. Of course, a lot of this was due to an unprecedented situation -- the COVID-19 pandemic -- and two products to address it: Pfizer's coronavirus vaccine and treatment.
As demand for these treatments dropped in later pandemic times, though, it was clear Pfizer needed a new growth driver. And the big pharma company announced that a key driver of that growth would be oncology drugs. To increase its presence in that area, Pfizer last year acquired oncology specialist Seagen, a company focused on antibody-drug conjugates (ADCs). These allow for the delivery of potent treatments directly to tumor cells, in order to limit damage to normal cells.
This week, Pfizer reported second-quarter earnings; this marks its second full quarter of earnings that include Seagen products. Is Pfizer winning its $43 billion bet on the oncology specialist? Let's find out.
Source Fool.com
Pfizer Inc. Stock
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With a target price of 41 € there is a hugely positive potential of 55.57% for Pfizer Inc. compared to the current price of 26.36 €.
