PFE had actually developed a safe version of torcetrapib that had been approved by the FDA rather than torcetrapib itself. What do speculate the PFE stock price would be now? It is my belief, which is substantiated by all of the negative press that PFE has been receiving, that PFE's very low P/E is due mainly to investor skepticism regarding PFE's ability to effectively fill the void in its drug pipeline created by the large clustering of patent expirations. If a successful version of torcetrapib had been developed out of PFE's own pipeline,in my opinion, it would have gone a long way to soothe investors anxiety regarding PFE's ability to replace key drugs such as Lipitor that will be expiring over the next few years. Instead of an enormous flop, there would indeed be a very noteworthy success story. Who knows what a catalyst this would have been for boosting the PFE stock price. I claim it would have been at least as good of a stock price catalyst for PFE as Gardasil and Januvia combined has been for Merck.