Breaking news: Pfizer gains FDA approval for pet antibiotic.
Things are really turning around for Pfizer. Stock is jumping and reaching a super high of $17.50 versus 52 week low of $17.12, which was also a record low for the last 12 years.
The good news is that Pfizer Inc. said today the Food and Drug Administration approved a new antibiotic for cats and dogs, Convenia, a one-time injection which provides up to 14 days of antibiotic treatment for common skin infections.
Pfizer said Convenia is an improvement over current oral antibiotics which must be given several times a day for weeks at a time. The injection must be administered by a veterinarian.
The people at Pfizer are celebrating. A real, new drug!