PFE

Pfizer, Inc.

44.08
USD
-1.10%
44.08
USD
-1.10%
40.94 61.71
52 weeks
52 weeks

Mkt Cap 245.89B

Shares Out 5.58B

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Pfizer involvement in Zantac woes 'smaller than people think' - Wells Fargo

A decline in Pfizer's (NYSE:PFE) share price today is "unwarranted" as the company's exposure to litigation regarding the heartburn drug Zantac "may be smaller than people think," according to Wells Fargo. Analyst Mohit Bansal said "Overall, we think the weakness in PFE stock appears unwarranted as their liability may be minimal if any from our understanding." In April 2020, the U.S. FDA requested over-the-counter Zantac (ranitidine) and its generics be removed from the market after finding it is linked to unacceptable levels of the potential human carcinogen, N-nitrosodimethylamine. Drugmakers Sanofi (SNY), GlaxoSmithKline (GSK), and Haleon (HLN) are under pressure Thursday due to potential legal exposure.

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