uploads/2018/11/pills-medical-money-943764.jpg

Why Pfizer’s Share Price Fell on November 20

By

Updated

Share price movements

On November 20, Pfizer (PFE) closed at $43.53, which was 1.47% lower than its previous closing price. On November 19, Pfizer and Merck KGaA issued a press release announcing unfavorable results from the Phase 3 trial, JAVELIN Ovarian 200, evaluating avelumab in ovarian cancer indication.

According to Pfizer’s press release, “avelumab alone or in combination with pegylated liposomal doxorubicin (PLD), a type of chemotherapy, compared with PLD did not meet the prespecified primary endpoints of overall survival (OS) or progression-free survival (PFS) in patients with platinum-resistant or -refractory ovarian cancer.”

Based on Pfizer’s closing price on November 20, the company witnessed returns of 0.02% in the last week, -1.89% in the last month, and 3.47% in the last quarter. Pfizer also witnessed returns of 21.02% in the last half year, 23.14% in the last year, and 20.18% year-to-date.

The above diagram highlights the key events that Pfizer investors should watch in December.

Article continues below advertisement

Drivers in 2018

On June 27, Pfizer issued a press release announcing that the FDA accepted the company’s New Drug Application for an investigational drug, glasdegib, in combination with low-dose cytarabine in first-line acute myeloid leukemia indication. The FDA granted a priority review designation to the application and set the Prescription Drug User Fee Act date in December.

According to Pfizer’s third-quarter 10Q, Lyrica is set to lose its basic product patent in December, which could have a negative impact on the company’s share prices.

Pfizer is exposed to significant foreign currency fluctuation risks due to its extensive presence in international markets. Any unanticipated FX changes could have a negative impact on the company’s revenues from emerging markets.

Advertisement

More From Market Realist