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The news about the FDA hit the market at 2:45 PM Eastern time, and by the close PFE had already recovered
half it's losses, so I think we have already seen the professional response to the news. There is a fair chance of
a sharp downward pressure right after the market opens Monday as the general public reacts (having had all
weekend to worry). If that happens I will buy more. I don't think this news makes much difference long term."
Lucius, you may be right about the early sell off but on the other hand I think many small investors, such as myself, will hold PFE at least until the Rx data gets released later on Monday. We keep on hearing about sustainable Rx rates by the analyst being at the 100,000 level, but last weeks Rx numbers clearly indicate that the demand for Viagra is, at the very least, stabilizing at the 200,000 to 300,000 level. This is huge for PFE.
Perry
PS it would be irresponsible for PFE to limit their press release to the short comments that we have read so far. The street hates uncertainty and therefore the exact reasons, good or bad, for the Zeldox denial must be released so that we can get past this. It was a very big surprise that a company as large as PFE can miss the mark on a new drug submission. Does anyone have any numbers on the big pharma co. (e.g. MRK, LLY, PFE) percentage of approvals and denials for NDAs? |
