Subject: PFE at $36.x, -5% today
Pfizer were working on two diabetes/weight loss drugs. It's my understanding they said up front they would go with the one that had the best results.

The first one, the results came out a week or two ago, they were excellent.

The second one, results today, some problems with the liver enzymes.

So they will go with the first one.

The prospects of the second drug being wildly better than an already excellent result, were not high.

IMHO the market has taken -5% off the long term value of Pfizer for basically not much reason at all.

And it's down -10% relative to the price just a week ago.

The last two times (in the last 8 weeks) the price dropped to $36-37, it rebounded to $40 within days.

I've picked some up, to replace the ones I sold recently at $40.

lux