Pfizer’s shares dropped steeply on Tuesday as global markets rose steadily. Analysts lowered estimates for the firm over weak drug prospects. Some investors fear the pipeline looks thin and leadership is still shaky.
But Pfizer secured a key approval: the first CDK4/6 maintenance therapy for advanced HER2-positive breast cancer. Still, the stock losses eclipsed the good news. Offices in Midtown Manhattan cleared out after beams buckled, raising collapse concerns.