Here's How Big Pfizer Is

Earlier today Pfizer stock was halted by the New York Stock Exchange. The reason: A Virginia court had invalidated the patent on the company's drug Celebrex, which is expected to generate $2.1 billion in annual sales in 2014. In the worst case, generics of Celebrex could be available starting May 30, says Mark Schoenebaum at ISI Group, dropping earnings per share by $0.12 cents. Which sounds disastrous. Celebrex was supposed to last until early 2016, meaning that Pfizer is losing about $3 billion in revenues.
Source: Forbes.com Healthcare News - Category: Pharmaceuticals Authors: Source Type: news