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What Analysts Recommend for Pfizer and Bristol-Myers Squibb
This year, Pfizer (PFE) stock has fallen 0.34% and Bristol-Myers Squibb (BMY) stock has fallen 6.48%. Both companies are focused on strengthening their position in the high-growth oncology and immunology markets. Let's take a closer look at each.
Why Pfizer Is Falling and Array Is Rising on Acquisition News
Today, Pfizer (PFE) announced its acquisition of Array BioPharma (ARRY). Pfizer will acquire Array BioPharma for $48 per share, which is a premium of roughly 62% over the stock’s June 14 closing price. The deal values Array Pharmaceuticals at an enterprise value of ~$11.4 billion.