Pfizer’s (NYSE:PFE) Alzheimer Medicine “Bapineuzumab” Fails to Meet Goals – PFE, GSK, MRK, ABT
Pfizer Inc (NYSE:PFE) reported that its drug bapineuzumab, a highly expected possible treatment for Alzheimer’s disease, failed to reach its set targets in its first of four Phase 3 studies.
Drug makers including Pfizer, Johnson & Johnson (NYSE:JNJ) and Eli Lilly & Co (NYSE:LLY) are spending millions to find the primary treatment to address the underlying mechanisms of Alzheimer’s, a disease that gradually robs patients of their memories and affects their thinking and behavior.
Pfizer, which joined with Janssen Alzheimer Immunotherapy R&D LLC to make an Alzheimer’s drug, reported that all other ongoing bapineuzumab studies were moving forward without changes.
Pfizer further stated that other study results should be announced later this summer.
Let’s have a quick look at the market performance of the key rivals. Shares of GlaxoSmithKline plc (ADR) (NYSE:GSK) fell -1.77% to settle at $45.44, Merck & Co., Inc (NYSE:MRK) moved down -0.32% to finish at $43.27 while Abbott Laboratories (NYSE:ABT) plunged -0.65% to end the trading session at $64.64.
Previous session traded volume of Pfizer Inc (NYSE:PFE) was 104.78 million shares compared with its average volume of 32.00 million shares. Shares of the company traded within the price range of $23.38 – $23.67 during the earlier traded session.
PFE price to earnings ratio was 22.26 compared with the 14.43 and 19.15 of GlaxoSmithKline plc and Merck & Co respectively. The P/E ratio of a stock is a measure of the price paid for a share relative to the annual earnings per share. The stock offers 4.37% as returns on assets while return on equity was 9.56%.
Last month, PFE stock price volatility remained 1.49% while stock price volatility for the week was 1.55%. PFE has 7.49 billion shares outstanding in its share capital and 7.49 billion shares have been floated in market.
The company generated revenue of 66.33 billion in the previous twelve months and had $8.28 billion in earnings. The stock reported a net profit margin of +12.54% whereas operating margin was +18.39%.