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PFE – Muted expectations for PFE are likely driven by concerns about the firm’s ability to effectively offset competitive headwinds with substantial growth from new products

November 20, 2017

    • Pfizer Inc. (PFE:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 15.7x Uniform P/E. These muted valuations appear driven by concerns about the firm’s ability to effectively offset competitive headwinds with substantial growth from new products
    • Specifically, while the firm has a number of possible blockbuster drugs in its pipeline, markets are pricing in uncertainty surrounding their potential. Additionally, the firm is likely to continue to face LOE and competition-related headwinds going forward, making it increasingly difficult for them to drive material operational improvements

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