Wyeth’s (WYE) shares are off 10% over the last three months, and trade near their 52-week low.
The stock is about to go lower. The company disclosed the receipt of an action letter from the (FDA) in response to the New Drug Application for bifeprunox, an antipsychotic that was reviewed for the acute treatment of schizophrenia, as well as the maintenance of stable adult patients
Last month the FDA declined to approve that company’s new antidepressant drug Pristiq.
It look like the beginning of a pattern.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
