DJIA Healthcare Stocks: Pfizer, J&J, and Merck Struggle
The Dow Jones Industrial Average (NYSEARCA:DIA) closed Friday down 0.39% and stands at 12,422. Here’s the biggest news from healthcare stocks on the Dow.
Johnson & Johnson (NYSE:JNJ): Evidence the Eurozone crisis is turning the world upside down: with EU banks not lending to each other, cash-rich multinationals like Johnson and Johnson are filling the void and are lending to banks through the repo market. Johnson and Johnson shares were up 0.05% Friday.
Pfizer Inc. (NYSE:PFE): Pfizer’s Lipitor cholesterol drug is holding onto 38% of the overall U.S. market as it competes with generic versions. As CEO Ian Read says, this is exactly what was expected. But he says it would be difficult for Pfizer to hold more than their current share as some patients are encountering resistance at pharmacies wanting to fill prescriptions with a generic version. Pfizer ended Friday down 0.68%.
Merck & Co Inc. (NYSE:MRK) is set to be a leader in the treatment of Hepatitis C, says Roger Pomerantz, the drug maker’s global head of licensing and acquisitions. He adds the company is willing to pursue whatever deals are necessary to make that happen. Merck & Co Inc. ended Friday with a loss of 0.75%.
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