Mixed Results for Pfizer Combo Pill
Shares of Pfizer (PFE) skidded Tuesday after the pharmaceutical company issued mixed test results for a new drug to improve heart health.
The experimental drug lowers bad cholesterol and raises good cholesterol, but it also elevates blood pressure, according to preliminary results of a late-stage clinical trial.
By mid-afternoon, Pfizer's stock was off 74 cents, or 2.7%, to $26.45 on trading that was 50% higher than the average daily volume for the past three months.
The experimental drug combines Lipitor with the investigational compound torcetrapib. Pfizer is counting heavily on this combination pill, which features the bad-cholesterol-lowering power of Lipitor and the good-cholesterol-raising ability of torcetrapib.Pfizer tested the combination pill vs. Lipitor in patients with heterozygous familial hypercholesterolemia -- a high level of bad cholesterol and a high risk of early heart disease. The combination pill raised good cholesterol by 56% and lowered bad cholesterol by 27% vs. patients taking only Lipitor. The study will be presented Nov. 15 at the American Heart Association's annual scientific convention in Chicago. However, the combination pill also raised blood pressure by an average of about two millimeters vs. patients taking Lipitor. Systolic blood pressure, the upper number in a blood-pressure reading, reflects pressure of blood in arteries when the heart contracts. The lower number -- diastolic blood pressure -- measures pressure in arteries when the heart relaxes between beats.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV