When Pfizer Inc.* released its fourth-quarter 2021 results its stock price initially dropped by 7%, ending the day down by nearly 3% against the virtually unchanged NYSE Arca Pharmaceutical Index. Not for the first time press articles highlighted Pfizer’s profiteering, but for a company that has ticked all the right pandemic boxes, the reaction of its analysts and investors may have felt a little ungrateful.
Pfizer’s reported fourth-quarter revenues grew by 104% over the same period of 2020 but fell by just under 1% on...
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