Pfizer Inc. (NYSE:PFE) stock comes with a rather formidable dividend yield of 3.92 percent, which, coupled with a strong growth rate, makes it one of the dividend superstars in the pharma sector. The stock currently trades almost midway between its 52 weeks low and high of $29.83 and $35.38 respectively and thus offers a good point to build a position. The company recently reported rather tepid quarterly numbers but made up for those with a few product approvals. Management's decision to raise EPS guidance is also a sign of good things to come.
The company boosted its position in the oncology market as the FDA granted its approval to Besponsa for treating a form of blood cancer. The drug may now be used as a monotherapy for the treatment of relapsed or refractory CD22-positive B-cell precursor acute lymphoblastic leukemia (ALL). Besponsa is already approved in the EU for the condition and adds to the company's oncology line of products, which has seen some encouraging action this year. Pfizer's Bavencio was approved by the FDA for metastatic Merkel cell carcinoma (MCC) in March this year. It was later approved for advanced bladder cancer in May. Bavencio is currently being reviewed in the EU for treating MCC and the company expects the verdict to be dispensed in the third quarter. The company is looking to receive the FDA decision for its Mylotarg as a treatment for CD33-positive acute myeloid leukemia. The drug has already received positive recommendation from the FDA's Oncological Drug Advisory Committee.
