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Pfizer Gets Okay for New Drug (PFE)

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By Paul Ausick Published

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.

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About the Author Paul Ausick →

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.

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