Pfizer jumps on strong earnings, dividend announcement

Pfizer rallied 8.08% to Rs 4,755.25 after the company said its board declared a special dividend of Rs 320 per equity share for the financial year ended 31 March 2020.
The record date is fixed on 8 May 2020. The stock offers a dividend yield of 6.73% at the current market price. The announcement was made during trading hours today, 27 April 2020.

The Indian drug maker’s standalone net profit rose 5.4% to Rs 139.06 crore on a 4.7% increase in net sales to Rs 538.18 crore in Q3 December 2019 over Q3 December 2018.
Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.
COVID-19, is a new virus with no vaccines or pills, which can change the current threat to an amazing opportunity, for companies like Pfizer.

Pfizer’s global parent has received a German regulatory authority, the Paul-Ehrlich-Institut, approval for Phase 1/2 clinical trial for BNT162 vaccine program to prevent COVID-19 infection.
BioNTech and Pfizer are jointly developing BNT162. The trial is the first clinical trial of a COVID-19 vaccine candidate to start in Germany and is part of a global development program.
Pfizer and BioNTech will also conduct trials for BNT162 in the United States upon regulatory approval, which is expected shortly.

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