Life does not get any easier for Pfizer (PFE). Forget generics. Now other drug firms are ganging up on them. Merck (MRK) and Schering-Plough are going to offer drug that combines their cholestoral drug with Pfizer blockbuster Lipitor. Its patent expires in three years.
Pfizer has defied gravity this year. Its stock trades at $25.66. In July, it was down to $22.28. The company has cut considerable staff. But, unless it has some rabbits in the pipeline hat, life is about to get very rough.
Douglas A. McIntyre
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