Pfizer Inc. (NYSE:PFE) stock has an impressive 3.76% dividend yield. In fact the company paid out more in dividends than it earned last year. Pfizer Inc. (NYSE:PFE) has increased its dividend no less than 8 times over the last 10 years. But it has massive cash flow to back its spending on its shareholders. Pfizer Inc. (NYSE:PFE) estimated total yearly cash flow in 2017 will be about $13 billion. But dividend yield isn’t the only reason why you should buy this stock.
Pfizer Inc. (NYSE:PFE) has a diverse product pipeline and the company doesn’t rely on one product for its revenues. Its blockbuster drug Prevnar 13 accounted for less than 11% of total revenue in 2016. Pfizer is no longer solely dependent upon pneumococcal vaccine amid launches of new products.
Pfizer Inc. (NYSE:PFE) is one of the biggest pharmaceutical companies in the world. It is behind famous brands that including Xeljanz, Eliquis, Lipitor, Celebrex, Pristiq and Viagra.
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Pfizer Inc. (NYSE:PFE) has taken a lot of steps to boost its growth in the future. The company acquired Hospira in 2015. In 2016, it bought Anacor and Medivation. With Anacor’s acquisition, the company brought in blockbuster skin treatment Eucrisa to add to its portfolio. Similarly, with Medivation buyout, it expanded its business into cancer treatment, with prostate cancer drug Xtandi.
At least 9 of Pfizer Inc. (NYSE:PFE) drugs posted double digit sales growth in 2016. The company’s cancer drug Ibrance and rheumatoid arthritis drug Xeljanz are getting acceptance and recogition in the international markets as well.
There are 34 late-stage clinical studies going on at Pfizer Inc. (NYSE:PFE). You can imagine the strength of the product pipeline of the company. Late stage candidates include diabetes drug ertugliflozin and pain drug tanezumab.
Pfizer Inc. (NYSE:PFE) launched a biosimilar version of Johnson & Johnson and Merck’s Redmicade in November last year. Analysts predict that this biosimilar drug will take in huge sales in the first quarter of 2017.
Pfizer Inc. (NYSE:PFE) will announce first quarter 2017 results on May 2. Analysts think that the company will post better revenues amid a boost from the its prostate cancer drug Xtandi.