Pfizer (NYSE:PFE) trails S&P 500 as China GLP-1 watch puts yield in focus
Pfizer Inc. ticked up on Monday, rising after a move in China increased reimbursement for its GLP-1 offering, giving it another inroad into the market. Shares added 0.4% to $24.37 late in New York trading, but trailed a broader rally. The S&P 500 ended up 1.18% at 7,440.43, and the Nasdaq Composite jumped 2.07%. It’s really about scale for investors. Reuters said sales of GLP-1 drugs on Alibaba and JD.com sites hit around 1.4 billion yuan in Q1, using Jefferies numbers. That would be about $828 million a year through those e-commerce channels. Meanwhile, Pfizer’s annualized dividend payout based on $0.43 per share and 5.731 billion Q1 diluted shares comes to almost $9.9 billion.