The correction has taken the stock 10% below the 52 week high made a couple of months ago. The volumes have been abnormally high during the past two weeks. There may be some pressure building on the downside. Importantly, it is poised around crucial levels and a bounce is extremely important. Further correction can increase the weakness, and ultimately lead to much deeper cuts. Today's action was positive, but more such days are required. Now the stock trades at a P/E (ttm) of above 13 and the forward P/E is slightly lower than 12. The recent weakness in the stock is more related to the correction in the market, and also the fact that the guidance for the current fiscal has been lowered. Separation of the Animal Health division will impact the financials during rest of the current fiscal. Historically, the stock has performed very well since 2009 and the dividends have only added to the returns over the long term. The good financial performance over the long term has been backed by new products from time to time. Innovation is the key to success in the pharmaceutical industry. Even smaller companies like PLC Systems (PLCSF) base their future growth prospects on innovative products created through proprietary technologies. The patent expirations put pressure on sales as the generic products hurt the sales almost immediately. Lipitor is a recent example of this. Over the next few years, dozens of drugs are going off patents in the market. Pfizer, has a good product pipeline, but it remains to be seen how many of those products will become blockbusters. However, considering the decades of performance of the company, it is likely to succeed in the long term with great offerings from time to time.