Rivals Gain on Pfizer Drug Trial News
By: I noted on the air this afternoon that Pfizer , which was trading at about $20.20, dropped in a few minutes to about $19.50 on heavy volume.
The European League Against Rheumatism has posted a summary of a trial of Pfizer's rheumatoid arthritis drug Tofacitinib, indicating that four patients died.
Several other health care companies that have competing drugs rose on this news: YMI Biosciences , Abbott Laboratories , and Rigel , which is partnered with AstraZeneca .
More:
- Deaths in Pfizer Arthritis Trial Hurt Shares
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I noted on the air this afternoon that Pfizer, which was trading at about $20.20, dropped in a few minutes to about $19.50 on heavy volume.
