Pfizer Inc. (NYSE: PFE) has received approval from the US Food and Drug Administration to sell its kidney cancer drug, Inlyta, in the US. The drug is expected to generate about $140 million in revenues this year, and as much as $800 million annually by 2017.
Shares have not reacted, down about -0.7% currently, because the drug is the latest of seven treatments for kidney cancer.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
Our top personal finance-related articles today. Your wallet will thank you later.
Top Gaining Stocks
Top Losing Stocks