The really angry investor who always sends me nasty emails when I blog anything he perceives as being negative for Pfizer should have nothing to complain about with this entry.
The late-day rally pulled up the entire beaten-down drug sector and, in particular, shares of PFE.
The stock posted its biggest percentage gain in nearly three years and its biggest dollar gain in more than two years, according to CNBC stock-stat maven Robert Hum. It's all relative, though. Pfizer still closed below 18 bucks a share. PFE was the biggest percentage gainer in the group today, but the biggest dollar gainer was Eli Lilly for reasons I blogged about earlier today.
Earlier on CNBC today I reported on why big pharma had not been providing the traditional shelter in a storm. The huge fundamental challenges facing the industry are well documented.
But Deutsche Bank's Barbara Ryan pointed out that while the sector's earnings may not necessarily be "high quality"--i.e. they're not being powered so much by revenue growth as they are by massive cost cuts--but they are dependable.
And she said the high dividend yields in some of the stocks were compelling at the prices they were trading at before today--i.e. PFE's approximately 7.3 percent payout. Investors apparently agreed.
DB owns at least one percent of PFE and has banked the world's biggest drug company.
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Questions? Comments? Pharma@cnbc.com