One of the reasons people are willing to pay the high PE for PFE (except for those who read about it on Sunday as a Biriyani pick in the NYT) is that we're buying the pipeline of products whose market potential could be huge. Yes, this is nosebleed territory, and it may pay off to try to time PFE for a gain, but it could also announce a product out of the blue that will dramatically alter its earnings profile. And . . . take a look at the 5-year chart. Looks good. This company has been doing right by its shareholders for a long time. SH
I am a big fan of PFE, having owned the stock for many years and added to it many times. I am simply suggesting that PFE at the present price may not be the wisest investiment for the new comer. Like any major pharmaceutical they will not announce a new product "out of the blue." I am afraid the only thing out of the blue will be unexpected side effects (what happened to Redux, Rezulin?) You already know the major products coming up: Trovan, a quinolone antibiotics sure to take its market share, in the long run; Viagra, a very unique drug, none in the same class on the market, a potential home run, again, 2-3 years. Thus you should invest your money elsewhere, and come back to PFE later this year. So what if it goes up to 85 then? Meanwhile your other decisions will surely award you more handsomely in the short term.