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Rivals Gain on Pfizer Drug Trial News

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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    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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