Blue-chip dividend-paying stocks should be part of any retirement portfolio, and one of the best of the bunch these days is drugmaker Pfizer (symbol PFE). Here are three reasons we like the stock for retirees.
With sales estimated at more than $51 billion in 2016, Pfizer ranks as one of the world’s largest pharmaceutical companies. The firm muddled through a few slow years after its patent for the cholesterol drug Lipitor expired in 2011, but it’s past that now. Investments in research and development, along with acquisitions, have resulted in several hit drugs on the market, including Ibrance, to treat breast cancer, blood thinner Eliquis and Xeljanz, a treatment for rheumatoid arthritis. Pfizer is now working on 94 drugs, including 41 in late-stage development to treat various cancers, diabetes and other ailments.
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