Current Market Situation
- Prices:
- Last NYSE price: $23.79 (April 30, 2025)
- EUR prices vary by exchange: €20.915–21.355 (Frankfurt/Xetra)
- CHF conversion: ~CHF 18.92–19.03
- Key Figures:
- Market capitalization: ~€107 billion to CHF 105 billion
- Dividend yield: 6.37%, P/E ratio ~18.83
Analysis of the Decline
The mentioned decline of 61.4% since the end of 2021 reflects mainly:
- Drop in demand for COVID-19 products like Comirnaty and Paxlovid.
- Patent expirations for blockbuster drugs (e.g., Ibrance).
- Current pipeline evaluation focused on oncology and mRNA technology.
Opportunities & Risks
| Factor | Details |
|---|---|
| ✔️ Strong balance sheet | High cash flows despite revenue decline (~$100 billion COVID revenue since 2021) |
| ✔️ Dividend attractiveness | Yield above S&P 500 average (~6% vs. ~1.5%) |
| ❌ Pipeline risk | GLP-1 competition from Novo Nordisk/Eli Lilly |
| ❌ Debt burden | Net debt position at ~ $59 billion (Q4/2023) |
Analyst Perspective
According to Finanzen.net, the stock was quoted on April 28 at €21.42 (+2%), with the median price target historically between $30-$45 – currently lacking specific target ranges in the available data.
Conclusion
The stock offers a defensive mix of high dividends and moderate valuation while facing transformation risks due to pipeline realignment (Oncology/mRNA). An entry might be worthwhile for long-term investors – provided they accept the volatility from patent cliff effects until around 2030.