Pfizer Inc. (NYSE:PFE) has just announced the commencement of its operations in Saudi Arabia to meet the local needs, with introduction of sixteen crucial pharmacy products of the company. Initially offerings of the subsidiary company, Pfizer Saudi Limited, would primarily be in 5 therapeutic fields, viz. anti-infective, pain, cardiovascular, neurology, and urology.
Launch of the Saudi manufacturing facility is in line with company’s support towards the National Transformation Program 2020 and “Vision 2030” initiative by the Saudi Government. Pfizer received a trading investment license for its new subsidiary in Saudi by the General Investment Authority during the month of June last year, with 100% ownership of business. The new facility accounts for SR187.5 Million (equivalent to fifty million dollars) investment to date, with further scope for expansion in future.
Pfizer, Inc. (NYSE:PFE) has climbed 3.08% in the past week and advanced 5.62% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 1.35% and the outperformance has advanced to 4.81% for the last 4 weeks period.
Several research reports has been issued on the company performance. Guggenheim initiated coverage on Pfizer, Inc. (NYSE:PFE). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of NULL. The rating by the firm was issued on December 2, 2016.
Pfizer, Inc. (NYSE:PFE) stock ended Friday session in the red zone in a volatile trading. The stock closed down 0.13 points or 0.39% at $33.48 with 17,474,593 shares getting traded. Post opening the session at $33.66, the shares hit an intraday low of $33.34 and an intraday high of $33.7 and the price was in this range throughout the day. The company has a market cap of $203,169 million and the number of outstanding shares has been calculated to be 6,068,355,100 shares. The 52-week high of Pfizer, Inc. (NYSE:PFE) is $37.39 and the 52-week low is $28.25.
On the company’s insider trading activities, Damelio Frank A, officer (Executive Vice President) of Pfizer Inc, unloaded 100,000 shares at an average price of $34.49 on May 26, 2016. The total amount of the transaction was worth $3,449,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 0.07% of Pfizer, Inc. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -8.19% . Institutional Investors own 68.39% of Pfizer, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -8.19%.
Pfizer Inc. is a global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its products include Lyrica, the Prevnar family of products, Enbrel, Celebrex, Lipitor, Viagra, Zyvox, Sutent, EpiPen, Toviaz, Tygacil, Rapamune, Xalkori, Inlyta, Norvasc, BeneFIX, Genotropin and Enbrel, among others. It operates in three segments: Global Innovative Pharmaceutical segment (GIP), Global Vaccines, Oncology and Consumer Healthcare segment (VOC) and Global Established Pharmaceutical segment (GEP). GIP is focused on developing, registering and commercializing medications in therapeutic areas, such as inflammation, cardiovascular/metabolic, neuroscience and pain, rare diseases and women’s/men’s health. VOC focuses on the development and commercialization of vaccines and products for oncology and consumer healthcare. GEP includes its sterile injectable products and bio similar development portfolio. Its subsidiary is Hospira, Inc.