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Here's Why Pfizer Was Halted On The NYSE

Sam RoMay 16, 2014, 21:48 IST

REUTERS/Francois LenoirA man stands inside the Belgian headquarters of U.S. pharmaceutical giant Pfizer, in Brussels.

Shares of Pfizer halted trading on the NYSE at around 12:04 p.m. ET and then resumed trading at around 12:18.

According to Bloomberg, the drug behemoth expects to submit palbociclib NDA with the FDA early in Q3 of this year.

Palbociclib is the compound name for a breast ancer drug in Pfizer's pipeline that has been in phase 3 trials.

News of Pfizer's trading halt had a lot of folks atwitter, speculating that there was an announcement coming regarding the company's proposed takeover of AstraZeneca.

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