Group 1 - Pfizer's share price has declined over various time frames, but there is a belief that the negatives are fully reflected in the current valuation [1][2][4] - The company faces significant challenges, including a sharp decline in COVID-19 product sales, with Comirnaty generating $5.35 billion in 2022 compared to $37.8 billion in 2021 [2][3] - Pfizer is approaching a patent cliff, losing exclusivity for several blockbuster drugs by 2028, which poses a risk to future revenue [3][4] Group 2 - Despite the challenges, Wall Street analysts maintain a positive outlook, with an average 12-month price target indicating a 19% upside potential [5][6] - Pfizer's operational efficiencies are expected to yield $7.2 billion in net cost savings by the end of 2027, contributing to earnings growth [6][8] - The company has a robust pipeline with 108 programs, including 30 in late-stage development, and anticipates four regulatory decisions this year [7][8] Group 3 - Pfizer offers a forward dividend yield of 7%, providing an attractive return while investors wait for potential growth [10][11] - The company generates sufficient free cash flow to sustain its dividend, supported by cost-cutting initiatives and management's commitment to maintaining and growing the dividend [11]

Core Viewpoint - SK bioscience has achieved a significant legal victory in a patent infringement lawsuit against Pfizer, allowing the company to expand its operations in the pneumococcal vaccine market [1][2][7] Group 1: Legal Developments - The Supreme Court of Korea ruled in favor of SK bioscience, stating that the individual conjugates of its 13-valent pneumococcal conjugate vaccine (PCV13) do not infringe on Pfizer's patent claims [2] - The court confirmed that the production and supply of PCV13 finished products for research purposes do not constitute patent infringement [2] - SK bioscience has also successfully invalidated a patent held by Moderna related to mRNA vaccine technology, which is seen as a major step in reducing patent-related risks for domestic companies [7] Group 2: Business Expansion Plans - Following the court ruling, SK bioscience plans to export individual components of PCV13 to countries with high vaccine demand, particularly in Southeast Asia and Latin America [4] - The company aims to expand its presence in the global pneumococcal vaccine market, with plans to manufacture and sell its vaccine SKYPneumo domestically starting in 2027 [5] - SK bioscience is developing a 21-valent pneumococcal conjugate vaccine in collaboration with Sanofi, which is currently in Phase 3 global clinical trials [5] Group 3: Market Outlook - The global pneumococcal vaccine market is projected to grow at a compound annual growth rate of approximately 5.6%, reaching USD 15.1 billion (approximately KRW 21.55 trillion) by 2034 [6] - This growth is driven by expanded vaccination programs and support from governments and international organizations [6] - SK bioscience's strong track record in public vaccine supply positions it well for future expansion in this growing market [6]

Pfizer (PFE 0.82%) recently reminded investors how risky the drug-development business can be. On April 14, the company told investors it would scrap development of danuglipron, its oral GLP-1 candidate for weight management. The stock has been trading about 63% below its all-time high. The danuglipron program's termination is disappointing, but it won't be the end of Pfizer's attempt to develop blockbuster weight-management drugs. The company has an oral glucose-dependent insulinotropic polypeptide recepto ...

Group 1: Merck's Capvaxive Approval - The European Commission has approved Merck's 21-valent pneumococcal conjugate vaccine, Capvaxive, for the prevention of invasive pneumococcal disease and pneumococcal pneumonia in individuals aged 18 years and above [1][2] - Capvaxive targets serotypes responsible for approximately 84% of all invasive pneumococcal diseases in older adults in the United States, including eight serotypes not covered by currently licensed vaccines [2][3] - The approval was based on safety and immunogenicity data from the STRIDE clinical program, including phase III studies comparing Capvaxive to PCV20 [3][4] Group 2: Market Context and Competitors - Year to date, Merck's shares have decreased by 11.5%, while the industry has seen a rise of 4.4% [2] - Pfizer is a key competitor in the pneumococcal conjugate vaccine space, marketing Prevnar 20 and Prevnar 13, which generated $6.4 billion in combined sales in 2024 [5][7] - Sanofi has expanded its collaboration with SK bioscience to develop next-generation pneumococcal conjugate vaccines, including a 21-valent PCV for pediatric populations [8][9] - Vaxcyte is developing a 31-valent PCV, VAX-31, which is in mid-to-late-stage studies for preventing invasive pneumococcal disease in both pediatric and adult populations [10]