NEW YORK (TheStreet) --Shares of Pfizer (PFE) - Get Report were higher in pre-market trading on Thursday, as two Food and Drug Administration (FDA) panels recommended the removal of its Boxed Warning on the pharmaceutical company's drug Chantix.
The FDA's Boxed Warning, typically referred to as a "black-box" warning, is the administration's most serious warning label and indicates "serious or life-threatening risks," according to the FDA's website.
Chantix, which is a drug used to help people quit smoking, had the label imposed in 2009 due to mental health side effects including suicidal thoughts, CNBC's Joe Kernan reported on this morning's "Squawk Box."
Additionally, Chantix was responsible for $671 million of the company's $48.85 billion total revenue last year, according to the Wall Street Journal.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings team rates Pfizer as a Buy with a ratings score of B+. This is driven by a number of strengths, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: PFE