The pharmaceutical company's stock went lower despite it reporting earnings that slightly beat Wall Street expectations. Damage, though, should be limited and the stock likely won't go much lower than $101 per share, where it fell on Tuesday.
"I think at these levels it's still a buy," Najarian said.
Tim Seymour is long AAPL, BAC, BX, C, DIS, F, GE, GM, GOOGL, INTC, PBR, SUNE and TWTR. Tim's firm is long BABA, BIDU, CCU, DSKY, FCX, KNDI, MBT, MCD, NKE, NOK, SINA, SBUX, TSL and VIP.
Brian Kelly is long BTC=, US Dollar, CTRL calls, HYG puts, TWTR call spreads and BBRY call spreads. He is short EWA, EWG, EWQ, EWZ, EWW, Australian dollar, British pound, Canadian dollar and yuan. Today, he bought CTRL calls.
Pete Najarian is long AAPL, BABA, DB, JPM, LOCO, KKR, LLY, MRK, BAC, BMY, PFE and KO. He is long calls AAL, BABA, COP, DAL, DIS, DNKN, EBAY, FCX, GILD, GT, IAG, ISIL, MCD, MRVC, PEP, RG, SYY, UAL, XLE, XLF, SPY, EWG. He is long puts BHP. Today, he bought GILD calls and DIS calls.
Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR and YHOO. His firm is long MCD, KO, USO, FCX, NE, NEM, OXY, RIG and VALE. His kids are long EFG, EFA, EWJ, IJR and SPY.