Rochester,NY 7/10/2009 2:34:18 AM
Afternoon Report - PFE - Big Pharma Shoves America Off the Wagon - Sourced WhisperFromWallStreet.com
Pfizer Inc
Afternoon Report - PFE - Big Pharma Shoves America Off the Wagon - Sourced WhisperFromWallStreet.com
Pfizer Inc.PFE
As expected, most industries have retrenched during this recession. Not so the pharmaceutical industry: It keeps spending, and spending, and spending -- on lobbying, to beat back health-care reform, and on advertising, to inspire people to buy its sweet.
In the first 3 months of 2009, the pharmaceutical and health-care-products industry spent more than $66.5 million on lobbying Congress -- about $1.2 million per day, or $50,000 an hour, according to the Center for Responsive Politics. And big pharma’s total spending on advertising certainly hasn’t declined significantly, either: Advertising Age recently reported that it spent $12.7 billion on marketing in 2008, with more money than ever dumped into television commercials. Fourteen of the top 100 advertisers are pill-pushers.
Last Trade: 14.30
Day's Range: 14.25 - 14.68
52wk Range: 11.62 - 20.13
Volume: 48,669,874
ABOUT Pfizer Inc
Pfizer Inc. engages in the discovery, development, manufacture, and marketing of prescription medicines for humans and animals worldwide. Its Pharmaceutical segment offers Lipitor for elevated cholesterol levels in the blood; Norvasc for hypertension; Caduet for cardiovascular events; Chantix/Champix for smoking cessation; Lyrica for neuropathic pain; Geodon/Zeldox, a psychotropic agent; and Aricept for Alzheimer?s disease. It also provides Celebrex for arthritis pain, and inflammation and acute pain; Vfend for esophageal candidiasis and blood stream infections; Zyvox for bacterial infections; and Selzentry/Celsentri for adults infected with only CCR5-tropic HIV-1 detectable. In addition, this segment provides Viagra for erectile dysfunction; Detrol and Toviaz for overactive bladder; Camptosar for metastatic colorectal cancer; Sutent, an oral multi-kinase inhibitor; Xalatan/Xalacom for open-angle glaucoma and ocular hypertension; and Genotropin for growth disorders. The company?s Animal Health segment offers parasiticides, anti-inflammatories, antibiotics, vaccines, antiemetics, and anti-obesity agents. It also provides Revolution/Stronghold for dogs and cats; Rimadyl for pain and inflammation associated with canine osteoarthritis and soft tissue orthopedic surgery; Clavamox/Synulox for skin and soft tissue infections; RespiSureOne/StellamuneOne to prevent pneumonia in swine; Bovi-Shield Gold for reproductive and respiratory protection; Dectomax, an injectable and pour-on formulations; Draxxin, an antibiotic for infections in cattle and swine; and Excede to treat infections in dairy cows, beef cattle, and swine. Pfizer Inc. also involves in contract manufacturing and bulk pharmaceutical chemicals businesses. It serves doctors, nurse practitioners, physician assistants, pharmacists, hospitals, pharmacy benefit managers, managed care organizations, and government agencies. The company was founded in 1849 and is headquartered in New York, New York.
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