Jim Cramer: "Maybe they really are a bunch of jokers at Pfizer"
Here's Jim Cramer's quote today, from The Street:
Maybe they really are a bunch of jokers at Pfizer (PFE - commentary - Cramer's Take - Rating). Either that, or their timing is just nightmarish.
I can't believe that two days after the company discussed a new cholesterol drug at its analyst day that they scrap it.
I know most people who peripherally follow this company may ask how one far-away drug could be so important. But frankly, I didn't see anything else at Pfizer that could make up for even a fraction of the lost revenues for Lipitor.
Jim Cramer contiues:
The truly nutty thing about all of this is that Pfizer's meeting last week now appears to be much ado about nothing, a manufactured guide-up that was really about one thing: Don't lose faith in Pfizer, we have this new cholesterol drug!
I panned Pfizer aggressively in these pages and the airwaves, in part because I just believe that companies with no real sales growth don't belong in peoples' portfolios. I was bombarded by people reminding me that Pfizer's about to launch this new drug that would save them.
Man, those critics must be quiet right now. As for me: as I said at the end of Confessions of a Street Addict: better to be lucky than good.
I can't help but think that Jim Cramer appears to agree with the post I wrote yesterday; Clueless Pfizer Executives.