Paul Harris, CFAPfizer IncPFEDON'T BUYAug 29, 2013

Pharma companies today are divided into the haves and have-nots. Eli Lilly and Vertex are in the 'haves' group. He owns Eli Lilly which could be the biggest of the Pharmas. Also Vertex looks good and has a new Cystic Fibrosis drug. Pfizer has little growth and the stock is under pressure. It pays a high dividend but offers no real dividend growth, He prefers lower paying dividend companies with significant dividend growth ahead rather than companies that pay high dividends now. With this theme in mind The ETF, RDVY, holds companies with the ability to grow dividends. His view is that it is a reflating world and that rates could go up more in the next cycle.

Does not own shares. Recent share price erosion a good place to buy. Post Covid-19 demand has fallen, which has reduced revenues. Patent expiration also a major concern. Very old company, but would wait before buying. 

Bought it last year for the 5.9% yield, but with Covid over (and vaccine sales gone), they have nothing. Shares have fallen in the past year. There was disappointment last year, but their obesity pill trial disappointed. Shares are washed out here. There are no expectations, though their drug pipeline is okay.

Not convinced it's based. Pretty good dividend yield of 5.9% is one redeeming quality, appears fairly safe. Underperforming. May have over-invested in Covid-related ideas. Still great brand long term. Stay away for now.

Covid-19 vaccine business fading, but business strong. Valuation coming back down to reasonable levels. Dividend yield ~6%. Expecting further growth with excellent R&D investment. 

Down 43% in 2023 and one of the S&P's dogs, falling sharply after Covid. Pfizer keeps facing patent cliffs for its drugs and hitting profit shortfalls. A comeback is possible, but election years made drugmakers targets. Pays a 5.6% dividend and their Seagen deal which could add an excellent cancer franchise. 

Not a great year, pullback in vaccine-related revenues, which are now normalizing. Reduced guidance every quarter this past year. Perhaps stock is washed out now. Patent cliffs. Buying companies and investing in R&D. Needs to see this is working.

They lack a good pipeline. Their 6% dividend is fine, but is this went to $32, sell. He wished he could be more positive.

It's show-me time. They made money during Covid, but they haven't performed since. Is the forgotten pharma company. Need to release a big drug. Tax-loss selling is nearly done, so shares should rise. Trades at a reasonable PE. Pays a 6% dividend, but grows at only 3.8%.

Shares fell today on their 2024 guidance. They're spending to bolster their drug pipeline (a migraine drug, Seagen's anti-cancer franchise). Their migraine drug sales disappointed this year, and the FTC is delaying the Seagen deal. 

Great company. Would recommend buying on share price weakness. Strong pipeline of new products and research. Owns shares in portfolio and would recommend for long term investor. Safe dividend. 

A contrarian call. They failed to get into the weight-loss drag boom, but that's not necessarily a bad thing. Them buying Seagen will diversify their business by getting the more into oncology which offers strong growth, more sustainable than weight-loss drugs. Offers good long-term growth for 3-5 years.

Growth for business will continue, but not as fast as during Covid-19. Valuation coming back to better level. Trading at ~12x earnings which is better place to be. Would advise investors to compare business to peers. 

Had great success during the pandemic; their vaccine led. The company just offered growth warnings. He prefers Merck for its better valuation and their key drug Keytruda which makes up 35% of their revenue.

Not a fan. The kind of pharma company that buys companies for growth. The other kind builds their own pharmaceuticals from the ground up, and that's where he wants to be. Good business, but not one he wants exposure to. Further downside from here.