Pfizer Inc Looks to India, but Investors Hold Off

Acuitas Therapeutics has failed in its attempt to shield Pfizer Inc. and BioNTech’s Comirnaty COVID-19 vaccine from GSK’s patent claims, after a Delaware federal judge tossed the case. Judge Gregory Williams sided with GSK’s subsidiaries, dismissing the Acuitas action for lack of subject-matter jurisdiction. In effect, the court said it didn’t have the authority to hear the suit as filed, leaving the broader patent dispute over the high-profile vaccine unresolved.

Pfizer picked up a new short-term catalyst Monday, with the U.S. Food and Drug Administration handing a priority review to its Padcev submission for bladder cancer. The stock gained roughly 0.8%, trading at $27.78 in the afternoon, drawing renewed attention as the company pushes ahead with a wider pipeline.

Between April 3 and April 6, a trio of reports drawing on fourth-quarter 13F filings detailed that Aberdeen Group, Raab & Moskowitz Asset Management, and Stratos Wealth Partners each cut back on Pfizer positions—together unloading 740,174 shares. On Monday, Pfizer stock slipped roughly 0.7% to $28.12 in U.S. trading.

Pfizer hit a new 52-week high Tuesday, lifted by upbeat analyst notes and a string of pipeline news fueling demand. Shares last changed hands at $27.87 late in the morning, having reached $28.30 earlier—eclipsing the earlier high-water mark of $27.92.

Pfizer Inc closed out Friday at $27.22, notching a 2.8% gain. Shares fluctuated from $26.52 to $27.37 throughout the session, with volume hitting roughly 50.7 million shares.

Pfizer Inc shares slipped roughly 1.1% to $26.49 in premarket action Friday, following Thursday’s close near $26.79.