- Pfizer dropped as much as 6% on Tuesday after Wall Street analysts knocked its recent deal with Mylan. Pfizer's off-patent drug business Upjohn will merge with Mylan by the end of 2020.
- Morgan Stanley and Bank of America Merrill Lynch both downgraded the stock from "buy" to "neutral," citing profitability concerns.
- UBS said it will continue to review the "complicated" merger before changing its "neutral" outlook, but added that it "does not suggest much to be excited about."
- Watch Pfizer trade live here.
Pfizer fell as much as 6% on Tuesday after its recent deal with Mylan prompted a handful of banks to downgrade the stock.
Several Wall Street analysts noted that the company's decision to merge Upjohn - Pfizer's off-patent drug business - with Mylan may weaken earnings expectations. The spin-off was announced July 29 after Mylan agreed to the deal in its second-quarter earnings report.
The announcement sent Mylan stock up as much as 19% on Monday, with Pfizer shares slipping about 4%.
Pfizer will continue to include Upjohn in its earnings reports until the deal closes in 2020.
Here's what three Wall Street firms had to say about what the deal means for Pfizer going forward.