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Pfizer Inc. Message Board

  • gooburpeez gooburpeez Sep 20, 2007 9:02 PM Flag

    Aug 20 GS Report forsees $1.32 dividend in 2009

     

    Pfizer�s yield of 4.9% approaches the historic sector highs, as a 5% dividend yield has been a reasonable limit since 2002. We expect Pfizer�s dividend payments to increase from today�s levels, by 7% annually through 2009. We also note that key recent launches of internally developed franchises have had meaningful commercial success, including Lyrica, Sutent and Chantix. The Lipitor patent hole remains a daunting challenge. That said, the market implied growth (2013-2017) of -2% shows that the market is already anticipating difficulties filling this gap...

    KEY RISKS: Key risks to our view include patent risk, lower than expected sales,
    unforeseen safety issues with marketed products, reimbursement and manufacturing
    constraints, and development risk. We note that Pfizer has received a �non-final
    rejection� of its re-issuance of the 2011 Lipitor patent. We expect Pfizer to continue to
    work with the FDA to seek reissue and our model assumes that Pfizer prevails. Our
    DCF analysis points to $1-2/share valuation difference if the patent life runs only to
    2010.

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    • How can revenues not keep falling indefinitely? PFE has no pipeline, suffers increasingly from competition, faces further regulation & has no pricing power.

      Some of these problems are sector-wide, but at least other pharmas have pipelines.

      Drug companies live & die by research, having to come up with entire new product lines every 15 years, since it takes time to market approved new drugs. PFE has gotten by on acquisitions. Now it's paying the price.

    • So you did mess with the GS report. Look you posted this information here and there are readers that thought just maybe it was lagit.

      Why would you do this?

      Thank god the other poster caught you.

 
PFE
34.61+0.18(+0.52%)May 27 4:02 PMEDT